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Europe: Diesel Traders Don't Panic Yet Ahead of Russia Ban

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More replacement ultra-low sulfur diesel (ULSD) is heading to Northwest Europe this month, allaying traders' fears about how the market will cope with the looming ban on Russian fuel imports. “It’s still not the panic you'd expect,” says a leading regional distillates broker. “The market seems pretty well supplied at the moment,” he adds. Import volumes are rising from both the US and East of Suez but Russian ULSD continues to make up around half of Europe’s fuel imports ahead of the EU’s Feb. 5 product embargo.

Topics:
Diesel/Gasoil, Oil Spot Markets, Gasoline, Jet Fuel
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