May Tightness Emerges as Constrained Barrels Fail to Arrive
ICE gasoil is trading at $1311/mt, up $12.5 on the day and now only $89 below the April high near $1400. The structure remains extremely tight with May to December backwardation near $375/mt up 1230% in last 3 months, which continues to signal immediate scarcity. This is not a flat price story. The curve shows that prompt barrels remain significantly underpriced relative to forward supply.
Want to read more?
Subscribe to globalbiodiesel.com to keep reading this exclusive post.
