German 50ppm gasoil trade picks up on price, temperature drop

20 September 2013 20:22  [Source: ICIS news]

LONDON (ICIS)--Demand for the 50ppm gasoil grade has picked up on lower price offers and a drop in temperatures, after a seasonal lull caused by the hot summer months, traders in Germany said on Friday.

A drop in crude oil prices brought German buyers into the market in a rush to secure product at the cheaper rate.

The grade carried a premium of $22/tonne over the ICE gasoil futures market, a trader said.

The German market was said to be healthier than other gasoil markets, with temperatures in Germany plummeting this week.

Gasoil is used as a heating fuel across many parts of Europe and buyers are keen to begin securing winter-grade gasoil.

By: Cuckoo James
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