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Europe's gasoil crack fell to $4.32 a barrel on March 11, its lowest since late November, as US refineries resumed operations after a freeze. Covid-19 lockdowns have kept European diesel demand well below seasonal norms.
Reduced US import demand and a weaker European diesel margin signal softer diesel prices, which eases fuel costs for feed logistics.
airfreight.newsBloombergMar 11, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Europe's gasoil crack fell to a 3-month low as US refiners returned and lockdowns kept diesel demand weak, which points to softer diesel fundamentals in the days before the March 17 drop.
