Europe distillates: Diesel profit margins edge higher
USO•Northwest European diesel refining margins rose 1.7% on Friday as Ukrainian attacks on Russian refineries resumed. Low-sulphur gasoil futures traded at a $70.70-per-barrel premium to Brent, up $1.15 from the previous close.
1. Margins and supply
Northwest European diesel refining margins rose 1.7% on Friday as Ukraine resumed strikes on Russian oil refineries, including an overnight attack on facilities in the Samara region. Low-sulphur gasoil futures traded at a $70.70-per-barrel premium to Brent crude futures at 1636 GMT, compared with $69.55 at the previous close.
2. Stocks and exports
Moscow plans to export 2.15 million metric tons of diesel in November, Deputy Prime Minister Alexander Novak said. Gasoil and diesel stocks in the Amsterdam-Rotterdam-Antwerp hub fell 3% to 1.72 million tons, while jet fuel stocks there fell to their lowest level since 2014, data from Insights Global showed.
