European gas oil prices rise to high
European gas oil prices set a new high above $1,000 a tonne on Tuesday, boosted by a fire in a key European refinery last week and unexpectedly strong demand. Power blackouts in South Africa, Chile and China have forced many companies to run diesel generators to offset electricity supply interruptions, while a harsh winter in south-east Asia has boosted heating oil demand. ICE April gas oil futures hit a record $1,017 a tonne on Tuesday, up 1.3 per cent on the day and 21.2 per cent since the start of the year.
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