London — European diesel futures dropped sharply on Friday, with the six-month forward spread LGOc1-LGOc7 slumping by more than 40% on concerns that a new COVID-19 variant could hit global aviation and economic activity.
The spread between the prompt ICE diesel futures for December delivery and the January contract LGOc1-LGOc2 dropped by 80% to 25 cents.
- Reuters (Reporting by Ron Bousso; Editing by Jan Harvey)
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