With lockdowns across Europe weighing heavily on consumption of ultra low sulfur diesel as road fuel, more and more material has started ending up in the heating oil pool instead of being sold at the pump, market sources said. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “We have a lot of demand for [French heating oil] but because we struggle to fulfill it, we are downgrading 10 ppm diesel into 1000 ppm diesel,” a trader said. “Sales of road fuels at supermarkets’ petrol stations are slumping by 60%-70%…it is not going to rebound any time soon so stocks are building,” he said, adding the oversupply of diesel was being sold as heating oil in France. According to another trader, buying appetite for 50 ppm gasoil has been boosted by the lockdowns. “There was strong demand…all these people working from home, they were […]