Demand for 50 ppm gasoil in Northwest Europe is yet to emerge despite sliding flat prices and colder temperatures of late, sources said Thursday.
FOB ARA 50 ppm barges were assessed at $417.75/mt Wednesday, down $13.25/mt from Tuesday and down $42/mt from a peak at $459.75/mt on October 27.
The ARA 50 ppm gasoil price hit its lowest point since September 28, when it was assessed at $410.25/mt.
"A bit more end consumer demand is visible," a source said. However, another source said: "I also thought [that lower flat prices would trigger a rise in demand] but for now there was no big boost for the demand. Steady demand but nothing extraordinary."
The German market for heating oil -- 50 ppm gasoil -- is particularly sensitive to flat price moves and naturally firms in times of cold temperatures.
"It's getting colder, that is correct, although we are still far away from minus temperatures in the north," the second source said.
