Market Eye: Europe's Diesel Trade Migrates to ICE Futures

摘要

Last week saw the first physical diesel being discussed against ICE's new Low-Sulfur (LS) gasoil futures contract, due to replace the existing ICE gasoil contract in Europe early next year. January ICE LS futures were trading at an $11 per metric ton premium to regular ICE gasoil on Dec. 10 when Russian trader Gunvor tested the water with a bid for 40,000 tons of German winter-grade diesel at January LS flat before Platts' pricing window had even opened.