London-European middle distillates cracks have climbed to their highest this year amid falling crude prices, a closed arbitrage from Asia and expectations of greater demand as International Maritime Organization’s 2020 regulations on marine fuels loom. The front-month 10 ppm diesel FOB ARA barge crack swap rose 38 cents on the day to an eight-month high of $17.40/b Thursday, the highest since November 26, while the front-month 0.1% gasoil FOB ARA barge crack swap also hit an eight-month high, rising 35 cents to $16.30/b, S&P Global Platts data shows.
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