Futures for European diesel fuel delivered in September last week were traded on the London ICE exchange at a premium of $43.99 per ton to Singapore swaps. The rising cost of diesel fuel in Europe may partly reflect supply problems in the United States. A fire in the naphtha tank at the Marathon refinery in Garyville led to a decrease in diesel fuel production. On August 25, the day the fire started, diesel futures on the American NYMEX commodity exchange on the Atlantic coast of the United States jumped to $12.54 per barrel, which was the largest figure in about five months. European diesel traders point to growing supply constraints in recent weeks, as the shortage of supply from the east of Suez coincided with a wave of unplanned downtime at European refineries
Source: Turan News Agency