Europe gasoil rises $13/t to new record high

15 May 2008 16:04  [Source: ICIS news]

LONDON (ICIS news)--Europe benchmark 10ppm (parts per million) gasoil barges have reached fresh record highs, rising $13/tonne from the previous high set this week to $1,061/tonne, driven by strong crude futures and good demand, market players said on Thursday.

 

The trade was done at GMT 14:35 on a FOB (free on board) ARA (Amsterdam, Rotterdam, Antwerp) basis.

 

The previous record high was set earlier this week with a trade of $1,048/tonne FOB ARA.

 

The new high was driven by strong crude oil futures and strong demand for gasoline in the US with the approach of the summer driving season, traders said.

By: Kawai Wong
+44 20 8652 3214

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