Europe distillates-diesel profit margins edge lower
USO•USO•USO•USO•Northwest European diesel refining margins eased as hopes for a diplomatic end to the Iran war weighed on prices. Low-sulphur gasoil futures traded at a $69.56-per-barrel premium to Brent, down 50 cents from the previous close.
Northwest European diesel refining margins edged lower on Monday. Low-sulphur gasoil futures traded at a $69.56-per-barrel premium to Brent crude futures by 1712 GMT, 50 cents below the previous close.
ADNOC CEO Sultan Al Jaber said global inventories had fallen by nearly 1 billion barrels since the war on Iran disrupted shipping through the Strait of Hormuz. He said diesel stockpiles in some areas were at 35-year lows for this time of year, while other areas faced an LNG supply gap of 600 billion cubic feet. EU-27 and UK diesel and gasoil imports rose to 829,000 barrels per day in October from 803,000 in September, while jet fuel imports reached 594,000 barrels per day, their highest since September 2025.
