Tight supplies, heating demand drive global gasoil margins to multi-year highs

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Published by
Reuters

By Mohi Narayan, Roslan Khasawneh and Ron Bousso (Reuters) – Refiners globally are reaping the highest profits from gasoil production in years on stronger than expected demand and tight supplies despite concerns about the Omicron coronavirus variant’s impact on the world economy. Demand for the fuel used to power trucks, generators and machines remained strong even as COVID-19 cases surge across the world as measures taken by governments to curb the spread were less severe than in 2020, traders and analysts said. Strong jet fuel prices have also reduced the availability of the middle distillat…

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