Calm in ARAG as Gasoil Rips Through Resistance
The ARAG window was notably subdued today, even as underlying energy markets surged ahead. ICE gasoil broke above its 200-day weighted moving average to reach $783/mt, a level not seen since early Q1. The move comes as geopolitical risks mount across several key trade corridors, sparking increased distillate buying and triggering technical momentum. The market’s response has been sharp: the BOGO spread dropped to +423, reflecting stronger distillate pricing relative to soft oils.
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