Gasoil stocks held in Asia have jumped since the EU’s ban on imports of Russian diesel came into effect on February 5 as Asian refiners now have to compete with Russia for diesel sales in Africa, traders and analysts have told Reuters. Ahead of the EU ban on Russian petroleum products, Russia began to divert its oil product cargoes to North Africa and Asia. At the same time, Europe has started to buy more diesel and other fuels from the Middle East, Asia, and North America to replace the lost Russian barrels. Weekly gasoil inventories at…
