SINGAPORE/LONDON, Oct 19 (Reuters) - Oil traders are ramping up diesel exports from Asia and the Middle East to Europe in October to profit from a wide price gap between the regions as weeks-long strikes at French refineries have tightened stocks, although a steep backwardation may cap volumes, according to trade sources and shipping data.
The price spread between front-month Singapore 10 ppm sulphur gasoil swaps and the ICE low sulphur gasoil futures contract, also known as exchange of futures for swaps (EFS) , was close to minus $150 a tonne on Wednesday, versus minus $29 a year ago, data on Refinitiv Eikon showed, making it attractive for traders to send oil to Europe.
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