Russia’s decision to ban exports of all types of diesel is adding to pressure in an already tight global market. The lifting of the ban, which came into force on Sept. 21, will depend on how quickly supplies are replenished in the domestic market, according to First Deputy Prime Minister Pavel Sorokin.
One thing most people are not aware of is gasoil is the same as diesel in the futures markets. Additional heating oil is diesel with anti-clogging agent so it doesn’t freeze in cold weather.
Insecurity of supply from Russia has already been priced into the market with the result that European countries are importing more diesel from both the USA and Middle East.Click HERE to subscribe to Fuller Treacy Money Back to top