W. Bulach
According to Bloomberg, the rise in diesel fuel exports from Asia to Europe resulted from higher gasoline costs in the hubs of Amsterdam, Rotterdam, and Antwerp (ARA) against the backdrop of the Asian market.
The seasonal drop in demand in India and the slowdown in China's economy both contributed to an excess of diesel on the Asian market at the same time. Additionally, the EU is becoming more interested in Asian diesel due to the dangers of Russian energy supplies ceasing.
Analysts expect that Asian refineries will generate 215,000 more barrels of diesel each day than the demands of the region. As a result, by the end of the third quarter of 2022, supply of diesel from Asia to Europe will increase. Supplies from the Middle East to Europe will also grow.
According to a previous data from Eurostat, energy inflation reached a record-high 41.1% at the end of the year. This was the highest level since measurements began in 1997. Within the EU, gas prices rose by 45.2% in the "liquid fuel" subcategory and by 51.4% overall (gasoline, diesel, etc.).
source: bloomberg.com
The seasonal drop in demand in India and the slowdown in China's economy both contributed to an excess of diesel on the Asian market at the same time. Additionally, the EU is becoming more interested in Asian diesel due to the dangers of Russian energy supplies ceasing.
Analysts expect that Asian refineries will generate 215,000 more barrels of diesel each day than the demands of the region. As a result, by the end of the third quarter of 2022, supply of diesel from Asia to Europe will increase. Supplies from the Middle East to Europe will also grow.
According to a previous data from Eurostat, energy inflation reached a record-high 41.1% at the end of the year. This was the highest level since measurements began in 1997. Within the EU, gas prices rose by 45.2% in the "liquid fuel" subcategory and by 51.4% overall (gasoline, diesel, etc.).
source: bloomberg.com
