Skip to content
Subscriber Only

European Gasoil Contango Narrows on Russian, Libyan Disruption

Europe’s gasoil futures contango, where fuel for immediate delivery is cheaper than contracts with later dates, narrowed amid reduced crude and oil-product imports from Russia and Libya.

Gasoil for April delivery traded at a discount of $1.50 to the May contract on the ICE Futures Europe exchange as of 2:46 p.m. London time. That compares with a discount of $2 yesterday and $3.25 at the beginning of the month and may signal a shortage of supply or rise in demand.