MARKET EYE: Europe Looks Further Afield for Diesel

摘要

Europe's life-blood flow of long-haul diesel from Asia has finally resumed now that Royal Dutch Shell's 500,000 barrel per day Pulau Bukom refinery in Singapore is coming back on line. Traders count at least four Indian cargoes plus a fifth from Tai- wan loading more than 400,000 metric tons this week. With more than 30 days before cargoes from eastern Asia arrive in Eu- rope, the cargoes are sailing against a $12 per ton backwardation between December and November gasoil futures.