NewsFlashGasoil futures surge to record high

14 March 2008 14:51  [Source: ICIS news]

LONDON (ICIS news)--The April front month gasoil contract on London’s ICE futures reached a new record high on Friday, trading over $1,000/tonne to hit $1,000.50/tonne at 14:00 GMT.

 

Gasoil futures had hit a number of record highs in recent weeks due to tight distillate stock levels in Europe.

 

Partly as a result of the futures contract, most middle distillate products such as diesel, gasoil and jet kerosene had hit new record highs in recent weeks.

 

Sources also noted stock levels for diesel and jet kerosene were in short supply across Europe, which had also contributed to the record high levels.

By: Kawai Wong
+44 20 8652 3214

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