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Agriculture Asia Biodiesel Energy Europe US

Crude complex continues slide, biodiesel flat prices steady

The gasoil market is continuing its slide Tuesday morning, following a drop of 2.15% over Monday prices are already 19 $/mt below last night’s settlement. Participants seem preoccupied with oversupply in the crude complex, following record crude exports from southern Iraq and an expansion in the number of active rigs in the US. Veg oils are also in a bear market, with palm oil reaching a 2 week low in Malaysia on weak exports and spill over from a very bearish US soybean market. This has left EU biodiesel thinly traded with flat prices decreasing 9% over the month of July while premiums over gasoil have been largely stable week on week.

 

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