Europe: Diesel Demand Slumps Ahead of Russia Boycott

Copyright © 2022 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

Demand erosion is taking a toll on European ultra-low-sulfur diesel (ULSD) values, even as the market struggles to arrange the replacement of Russian term volumes ahead of the sanctions rollout later this year. Early figures from France suggest a 5% slump in domestic diesel consumption in June compared to last year. Other countries have already seen their Covid-19 recoveries go into reverse. Regional demand fell by 250,000 barrels per day in April compared to March with gasoil down 180,000 b/d. Preliminary Energy Intelligence data suggest the fall will be steeper in May and June.

Diesel/Gasoil, Jet Fuel, Gasoline, Oil Spot Markets, Oil Products
Wanda Ad #2 (article footer)
Crude prices trail product values by a historic distance but find strength in high spot premiums from a distorted short-haul market in Europe.
Tue, Jul 19, 2022
Crude production in the US shale sector is expected to rise by about 141,000 b/d in September, according to the EIA.
Mon, Aug 15, 2022
The flag carrier is relying solely on pipeline deliveries into Germany's largest airport after declaring barge deliveries too dangerous.
Fri, Aug 12, 2022