Europe distillates-diesel profit margins hold steady
European diesel refinery profit margins were unchanged on Friday and remained supported by tight supplies.
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Low-sulfur gasoil futures traded at a $21.45 per barrel premium to Brent crude at 1557 GMT, unchanged from the previous close, according to LSEG data.
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Gasoil and diesel stocks held independently in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose 2.6% to 2.09 million metric tons in the week to Thursday, data from Dutch consultancy Insights Global showed.
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European diesel markets are finding support from permanent refinery closures, tight heavy crude markets, and as refiners priorities jet fuel production, BNP Paribas analyst Aldo Spanjer said in a note.
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"Europe's policy to sanction product imports made from Russian crude from January 2026 could be another bullish driver as strict enforcement would imply Europe cannot import diesel from either India or Turkey," he added.
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Oil processing at Russia's Kuibyshevsk refinery, which is operated by the Rosneft oil company, has been halted since August 28 following Ukrainian drone attacks, two industry sources said.
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EU and UK diesel and gasoil imports have reached 1.11 million barrels per day so far in August, according to data from Kpler, up from July's 1.02 million bpd.
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