Commodity Market Report
Genscape weekly European market signposts - Diesel stocks draw as imports dry up
Report summary
This weekly update integrates Genscape’s proprietary monitoring of near-term data with Wood Mackenzie's Product Markets Short-Term analysis to provide insight to the fast-changing European oil products markets. In recent weeks the demand for ULSD has increased as European countries have relaxed lockdown restrictions and industrial demand has recovered. Data from Genscape’s European waterborne report suggests this demand increase was met from draws in storage, rather than increased refinery runs. Stocks have drawn from both floating storage and from monitored tanks in the Amsterdam, Rotterdam, and Antwerp (ARA) hub. Meanwhile, imports into Europe from the Baltic region and the Middle East have slumped, tightening the European supply, and further incentivising inventory draws, as weak refining margins did not support materially higher crude runs.
Table of contents
- Diesel stocks draw as imports dry up
-
NW Europe imports from the Baltic fell sharply in June and early July
- European stocks drew from both land and sea
- Storage economics disappears as stocks draw
- Waterborne movements show product moves from storage hubs to demand centres
- Weekly European market signposts
Tables and charts
This report includes 5 images and tables including:
- ARA gasoil/ULSD storage
- European gasoil/ULSD floating storage
- ICE gasoil M1-M2
- Gasoil/ULSD out of ARA by discharge region
- French Med gasoil/ULSD imports
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Regional product markets short-term outlook March 2024
Monthly forecast of regional refining economics, regional demand and supply by product along with stock forecasts and a net trade forecast
$1,900
Asset Report
Gdansk FSRU
Gdansk FSRU terminal is a proposed floating LNG terminal located in the Bay of Gdansk, on the Baltic coast, in northeast Poland. If ...
$1,200
Commodity Market Report
Oil products price forecast mid-month update January 2024
Mid-month update to our short-term oil products prices and margins forecast.
$1,900