Europe Distillates/Fuel Oil-ICE gas oil dives - Reuters India

By
Viraj
on November 7, 2009 10:23 PM | | TrackBacks (0)
LONDON, Nov 6 (Reuters) - ICE gas oil futures prices fell toa three week low on Friday due to an expected increase infloating storage volume, which steepened contango further,traders said.

Manufacturer of oil tanks India.

"The time spreads widened a bit so the market feels a bitmore relaxed with better incentive to carry," one broker said. The diesel arbitrage from the United States opened slightly,while the reduced output from European refineries due to runcuts was likely to balance off the potential arbitrage imports.

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