Europe Distillates-Diesel profit margins slide as Russia boosts output

By Reuters News

- Diesel refining profit margins fell by 7% on Tuesday, as rising Russian production weighed.

  • Low-sulphur gasoil futures traded at a $73.90 a barrel premium to Brent crude futures by 1706 GMT, $5.60 lower than the previous close.

  • French fuel retailers will not have to replace diesel released from France's strategic reserves under a new government scheme after a decision by Prime Minister Sebastien Lecornu, a spokesperson for the fuel lobby Ufip said on Tuesday.

  • Russian oil refineries increased crude processing by 25% in the second half of October compared to the beginning of the month after persistent drone attacks on the plants ceased, three industry sources told Reuters.

  • France is expected to start the release of 10 million barrels of diesel from its strategic reserves on November 1 in a bid to ease pump prices after fuel costs surged in the wake of the US-Israeli war with Iran.

  • India's diesel exports are set to surge from 2027, giving the South Asian nation a bigger role in global markets, as state-run companies boost refining capacity, industry officials said on Tuesday.

  • Brazil's government will extend on Tuesday a diesel subsidy of 2.12 reais ($0.39) per liter for a month, the country's Planning Ministry said in a statement.


Trades

Bids

Offers

Previous Session

Seller

Buyer

0.1 GO Barge

diffs fob ARA per ton

0.1 GO Cargo

diffs cif NWE per ton

Nov -$4


Glencore

Trafigura

0.1 GO Cargo

diffs cif Med per ton

50ppm barge diffs fob ARA per ton

Diesel

Trades

Bids

Offers

Previous Session

Seller

Buyer

Diesel barge

diffs fob ARA

per ton

Diesel cargo

diffs cif NWE

per ton

Nov +$28

Nov +$32


Diesel cargo

diffs cif Med

per ton

Med -$4 (Koper)

Nov +$12


Jet fuel

Trades

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Offers

Previous Session

Seller

Buyer

Jet fuel barge

diffs fob FARAG

per ton

Jet fuel cargo

cif NWE per ton

CCM +$50

CCM + $56 (Thames) and CCM + $24 (Le Havre)

Unipec

BP

Fuel Oil

Trades

Bids

Offers

Previous Session

Seller

Buyer

0.5% barge fob ARA per ton


$714

3.5% barge

fob ARA per ton


$669

ICE Low Sulphur Gasoil

Previous Close

ICE Low Sulphur Gasoil futures vs Brent futures (per barrel)

$73.90

$79.49

Diesel spread

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