Europe distillates-diesel profit margins hold steady
USO•European diesel refining profit margins were little changed as conflict in the Middle East continued to disrupt supplies. Low-sulphur gasoil futures traded at $76.06 a barrel over Brent, up 7 cents from the previous close.
1. Margins and futures
Diesel refining profit margins were little changed on Monday. At 1722 GMT, low-sulphur gasoil futures traded at $76.06 a barrel over Brent crude futures, 7 cents higher than the previous close.
2. Supply and cargoes
BP bought jet fuel cargoes from Shell and Gunvor in the Platts window. Russian refiners are raising diesel production in October after the government granted export quotas following a supply agreement with the United States, two industry sources said. Libya’s National Oil Corporation said it reopened the Brega refinery after maintenance.
