The  50  ppm  gasoil  heating fuel market in the Amsterdam-Rotterdam-Antwerp region has 

strengthened on strong demand at the prompt, lowering the spread to the 10 ppm ultra low 

sulfur diesel (ULSD) market to the narrowest point since July. 

S&P Global  Platts assessed 50 ppm FOB ARA gasoil barges at a $1/mt discount to the 10 

ppm FOB ARA diesel barge market Friday, narrowing $1.25/mt on day. 

The last time spreads between these two spot physical markets were this close was on July 

4, when the spread was at a 50 cents/mt discount. 

Differentials for 50 ppm gasoil, trading in the ARA barge market, also moved back into positiv

e  territory  against  low  sulfur  gasoil  futures  Thursday,  to  be  assessed  at a 25 cents/mt 

premium, up 50 cents/mt on the day. 

Furthermore, in the absence of a paper market, a daily 16 cents/mt backwardated structure 

was defined across the assessment curve for the physical market, further demonstrating the 

tight  market  fundamentals. A bid as high as a 50 cents/mt premium at the close of the S&P  Global  Platts Market  On  Close assessment process over the front end of the assessment 

range. 

This strength ties in with the rising demand for heating fuel in the north of Europe, particularl

y  from  Germany, which  is  the market's biggest consumer market, but also from the limited 

gasoil streams in the region, according to market sources.