Amid shipping disruptions in the Strait of Hormuz, oil product prices in Europe are rising and approaching historical highs.
“Elchi” reports that data from “Platts” agency indicates this.
According to the report, low-sulfur gasoil futures increased by $17.25, reaching $1,349.25, which is the highest level since June 2022.
At the same time, spot diesel prices exceeded previous records:
– In Northwest Europe – $1,505.25 (per ton);
– In the Mediterranean – $1,470.75.
According to “Insights Global”, diesel and gasoil stocks in the Amsterdam-Rotterdam-Antwerp hub decreased by 4.79% weekly, falling to 2.089 million tons.
The jet fuel market remains tense. Kerosene stocks decreased by 13.4% year-on-year, falling to 737,000 tons, marking the fourth consecutive week of decline.
In addition, oil prices are rising: The spot premium for “Dated Brent” reached $4 per barrel, the highest since August 2022.
Analysts link the current trend to supply instability against the backdrop of the situation in the Persian Gulf.