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Sluggish demand and oversupply sap European diesel markets

Posted on AllSides April 22nd, 2024
From The Center

LONDON, April 22 (Reuters) - European diesel futures spreads are flashing signs of oversupply and slow demand with the three-month contango trading on Monday at its widest since August 2021. Contango is a market structure in which a current contract trades at a discount to a contract for a later date and usually gives traders a signal to store the fuel to maximise profit. On Monday the May low-sulphur gasoil futures contract traded at $6.25 a metric ton below the August contract and more than $3.50 below the June contract....

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