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.
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