Saras sees diesel margin improvement later in the year argusmedia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from argusmedia.com Daily Mail and Mail on Sunday newspapers.
The fuel that's the engine of the global economy is surging again, as hot weather hampers diesel supplies in a market that's still reeling from the loss of Russian exports.
Unwavering and exceptionally strong product cracks for diesel and jet fuel have steadied Nigerian crude values against increasingly challenging arbitrage flows to key markets, contrary to some expectations earlier in the July trade cycle. Arbitrages to Asia and Europe for Nigerian grades have looked increasingly arduous given historic levels of backwardation in Dated Brent. Steep .
Some European refiners are grappling to keep run rates elevated in order to meet resurgent oil demand, exacerbated by a lack of investment and expensive feedstocks despite very high margins, industry executives said June 7. These refineries, which were until recently, very reliant on Russian crude and feedstocks, were also having to look farther, which .