Despite low gasoil inventories and Feb 5 sanctions gasoil has dropped $100/Mt in just a week. Natural gas leading the way down as Europe has had a mild winter until now. BOGO now trading solidly at +505 and reflecting a solid contango through Aug. FAME spot trading cannot find any traction in the spot market and still trading at $50/Mt below BOGO. Only RME (Rapeseed Methyl Ester) has moved further up compensating Gasoil drop and more at +835 in one week despite RSO being the weakest soft oil in Europe trading at Eur100/mt below Sunflower oil or Soyoil. This of course means great margin for first generation biodiesel producers selling RME.
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