Europe gasoline, gasoil follow crude to new records
21 April 2008 11:49 [Source: ICIS news]
LONDON (ICIS news)--Refined oil products reached fresh historical highs on Monday on the back of crude setting a new record.
Benchmark 10ppm premium unleaded gasoline broke the previous record high of $1,000/tonne (€630/tonne), seeing at least 4,000 tonnes being traded at $1,002tonne FOB (free on board) ARA (Amsterdam, Rotterdam, Antwerp).
Gasoil futures also broke its latest record highs, seeing trades up to $1070.50/tonne. Gasoil is used to price middle distillate products such as physical gasoil, diesel and jet fuel kerosene.
Crude, which hit $114.65/bbl for June Brent and $117.40/bbl for NYMEX light sweet crude futures, rose on supply concerns after Nigerian militants sabotaged a major oil pipeline in the oil-rich Niger Delta region, which is operated by a unit of Shell Group.
($1 = €0.63)
By: Kawai Wong
+44 20 8652 3214
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