4 min listen
European road fuel market dynamics under a heavy oil complex backwardation
FromOil Markets
ratings:
Length:
14 minutes
Released:
Nov 18, 2021
Format:
Podcast episode
Description
The strong backwardation in diesel and gasoline forward pricing is reflective of a tight fundamental picture for road fuels in Europe as demand steadily rises and refineries grapple with high crude feedstock and running costs as natural gas prices soar, curtailing supply. Amid this market tightness, inventories continue to draw as the opportunity cost of storage rises, reducing supply buffers. At the same time, refiner hedging is exacerbating the strength in calendar time spreads. In this episode of the Oil Markets Podcast, S&P Global Platts Global editors Rowan Staden-Coats and Lucy Brown discuss with Joel Hanley backwardation and what it means for road fuel markets in Europe.
Released:
Nov 18, 2021
Format:
Podcast episode
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