ICE front-month 0.1% gasoil futures hit a 26-month low at the start of the week, Platts data showed, amid ongoing weakness in the crude oil complex.
"As the new week begins, Brent is trading at below the $98/b mark and thus only just short of the two-year low it hit last week," Commerzbank analysts said in a note.
"Plentiful non-OPEC supply, especially in the US, in combination with concerns about demand in Europe and China are continuing to weigh on its price," they said.
ICE October 0.1% gasoil futures were assessed at $814.50/mt Monday, the lowest level for the front month since $808.75/mt on June 25, 2012.
The FOB delivered Rotterdam 0.1% sulfur gasoil outright price and Northwest European cargoes and Mediterranean cargoes were all assessed at their lowest level since June 26, 2012, at $811/mt, $817.25/mt and $819/mt respectively.
The 10 ppm diesel outright price for cargoes hit the same long-term lows with CIF NWE cargoes assessed at $836.25/mt and CIF Med cargoes at $840/mt.
The 10 ppm FOB barge outright price fell to an even deeper low at $829/mt, its lowest level since January 10, 2011.
Front month ICE Brent futures were assessed at $96.85/barrel Monday, a $1.05/b drop on the day and continuing the sharp decline of recent weeks.
Most analysts expected the oil complex to remain weak, with demand not looking very strong in a physical crude market awash with material.
