Policy Gravity Holds the Line as Margins Diverge Across Regions
- Henri Bardon
- Jan 9
- 5 min read
Energy markets moved into defensive mode ahead of the weekend, driven primarily by geopolitical risk management and position clean-up. ICE gasoil rallied into January expiry as participants reduced exposure before the weekend. The Jan/Apr backwardation moved nearly 30 percent higher on the day to around $9.50 per metric ton, while the Jan/Jul backwardation widened to roughly $20 per metric ton. This price action reflects pre-weekend covering and expiry dynamics rather than a change in underlying physical diesel balances.
Want to read more?
Subscribe to globalbiodiesel.com to keep reading this exclusive post.
