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A record volume of diesel, over 3 million tonnes, is set to reach Europe from Asia and the Middle East in May as lockdowns left refiners with excess supply. Refining margins have fallen to an 11-year low below $5 a barrel.
Record diesel imports into Europe and collapsing refinery margins point to continued downward pressure on diesel prices and possible refinery run cuts.
hydrocarbonprocessing.comMay 18, 2020After 18 past bearish logistics events, ULSD / Diesel moved a median +0.6% over 5 sessions (56% higher; middle half -1.5% to +3.3%), and -0.2% over 20.
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.
