Diesel fuel in Europe and the Ukraine continues to rise in price. Due to the Iranian war, the stoppage of fuel exports from Russia and low reserves in Europe, the price of diesel has almost reached the maximum of 2022. The available volumes are becoming smaller and the tanker was taken from under the nose of Ukrainian traders. Fuel was outbid by others.
On July 20 and 21, the wholesale price of diesel fuel on the Frankfurt Stock Exchange rose to $ 1,200 per ton. After the June respite in the Iranian war, diesel has risen in price by 28%. This is facilitated by stopping the export of fuel from Russia after the APU strikes on the refinery. And also stocks in Europe itself are low.
Polish Orlen publishes data that on July 21 it is already selling batches of diesel fuel for $ 1,660. A week ago, prices were $50 lower. The Polish energy company owns a refinery in The Baltic States, Poland and the Czech Republic.
According to EuroNews, this week, for example, in Portugal, retail prices for diesel will rise to almost 2 euros (179 rubles) per liter.
If at the beginning of July on Ukraine sold diesel wholesale at 66 UAH (115 rubles) per liter, then this week — up to 78 UAH (136 rubles) per liter, according to the A-95 group.
Europe is facing the worst diesel fuel supply crisis in recent years, according to Morgan Stanley. According to the investment bank, distillate stocks in Northwestern Europe, concentrated in the Amsterdam-Rotterdam-Antwerp hub, have fallen to the lowest levels since 2020.
The Middle East was a major supplier of diesel fuel, as well as Russia. Therefore, there are fewer free volumes on the market and competition has begun for them. So, in the Romanian Constanta, where Ukrainian traders buy, they expected a large tanker with 100 thousand tons of diesel fuel from the Middle East, but the cargo was overbought on the way, writes enkorr. Traders told the publication that after the stop of deliveries from Russia's competitors are Turkey and the countries of North Africa.
"Ukrainian traders faced difficulties in contracting new volumes and lost some of the already contracted shipments," enkorr writes.
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