OIL MARKET: The backwardation in the European diesel market is monstrously large. And getting worse.
The chart is 2nd-to-3rd month gas-oil futures spread, approaching the all-time high set earlier this month when spreads blew-up. All points to an extremely tight market | #OOTT pic.twitter.com/UVO9jJmZBS
— Javier Blas (@JavierBlas) March 23, 2022
🇪🇺🇺🇸 Great @ecb heatmap of supply-side bottlenecks, showing that supply issues have not eased over recent months, and are expected to continue throughout 2022.https://t.co/ElDu5luosp pic.twitter.com/4Y2Mj8dxn4
— Frederik Ducrozet (@fwred) March 24, 2022