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Europe: Diesel Price Sinks Ahead of EU's Russian Fuels Ban

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Prices for Russian diesel are tumbling ahead of the European Union’s ban on refined product imports, as Russian exporters are keen to sell as much product as possible ahead of the Feb. 5 deadline while EU buyers are filling up their tanks with Russian fuel but are also receiving rising imports from elsewhere. Russian ultra-low-sulfur diesel (ULSD) was changing hands at a $130 per metric ton ($17.50 per barrel) discount to other origins for last-minute delivery into Europe by mid-January.

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