Heating oil demand in Germany rose last week as temperatures dropped. Sales reported to Argus increased by 30pc compared with the previous week.
Colder conditions supported consumption, with the average minimum temperature in Berlin falling below 6°C on 23 September, down from 18°C a week earlier, according to German weather service Wetteronline.
But regional sales and supply varied, reflecting price disparities. Volumes in southern Germany rose by 20pc on the week, while sales from the 204,000 b/d Schwedt refinery in the northeast declined.
Diesel supply from BP’s 103,000 b/d Lingen refinery in northern Germany was limited following a suspected unplanned hydrocracker outage. At the same time, an oversupply of diesel from Schwedt eased.
Even so, Germany’s national average diesel price weakened relative to Ice gasoil futures, pointing to continued ample supply and relatively soft demand compared with the Amsterdam-Rotterdam-Antwerp hub.