MNI Commodity Weekly: Global Diesel Markets Face Counter Seasonal Tightness

• Global Diesel Markets Face Counter Seasonal Tightness as Russian Supply Dynamics Bite: A slew of refinery outages, high temperatures and weak stock levels are driving global diesel prices as the impact of Russian sanctions creates counter seasonal tightness.

• Oil Markets: Crude and oil product markets await the latest Saudi decisions for September as markets rally amid tight OPEC+ crude supplies, limited refinery runs and on optimism for improving global economic expectations.

• Gas Markets: Volatile TTF trading continues against high storage levels and low demand is set against a dip in Norwegian supply as LNG imports decline. For the US, a small dip in LNG exports and steady domestic production are set against ongoing above normal demand after recent warm weather.

MNI Commodity Weekly - Global Diesel Markets Face Counter Seasonal Tightness as Russian Supply Dynamics Bite.pdf