Europe’s Super-Strong Fuel Markets Are Going Into Reverse
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Recent strength in Europe’s fuel markets is starting to fade, eroding oil refiners’ margins and taking away a supportive factor for crude prices as the year draws to a close.Diesel — which accounts for about 40% of OECD Europe’s oil demand — hit its lowest premium to crude in two months on Wednesday, and there have been similar downward moves in gasoline and jet fuel. Forward curves for oil products are also flashing signs of weakness.