Europe Gasoil Contango Widens; BASF Buys Naphtha: Oil Products
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Europe’s gasoil futures contango widened, signaling weakening demand, after customers in Germany filled up their heating fuel tanks ahead of winter.
BASF SE, the buyer of a 12,500-metric-ton naphtha cargo in the last session, bought the same amount from Glencore International AG. Gasoil futures for December delivery declined on London’s ICE Futures Europe exchange.