Europe Distillates-Diesel refining margins hold steady

Glencore

24/09/2026 17:23

LONDON, Sept 24 (Reuters) - European diesel refining margins were little changed on Thursday as regional inventories edged higher. 
Low-sulphur gasoil futures LGOc1 traded at $86.99 a barrel above Brent crude futures LCOc1 by 1631 GMT, 24 cents lower than the previous close. Margins hit a record high of nearly $95 on Wednesday after President Trump on Tuesday backed the idea of banning US diesel exports.
Gasoil and diesel stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose 1.0% on the week to 1.65 million metric tons but remained 25% below year-earlier levels, data from Dutch consultancy Insights Global showed.
Inland demand fell to a record low amid low Rhine water levels and high barge freight rates, Insights Global's Lars van Wageningen said.
US distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell by 428,000 barrels last week to 107.4 million barrels, versus expectations in a Reuters poll for a 633,000-barrel drop, Energy Information Administration data showed. EIA/S
The European Union and the United States are holding high-level talks over the reported US plan to ban diesel exports, which the EU believes could negatively affect both sides, a European Commission spokesperson said on Thursday.
Russian oil company Rosneft's Kuibyshev refinery halted processing on September 22 following a drone attack, two industry sources told Reuters.
Serbia will release around 5,000 metric tons of diesel from state reserves to ease shortages stemming from a global supply squeeze caused by wars in Iran and Ukraine, energy minister Dubravka Djedovic Handanovic said.
 
Trades
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0.1 GO Barge
diffs fob ARA per ton
 
 
 
 
 
 
0.1 GO Cargo
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0.1 GO Cargo
diffs cif Med per ton
 
 Oct +$25
 
 
 
50ppm barge diffs fob ARA per ton
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diesel
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Diesel cargo
diffs cif NWE 
per ton
 
Oct +$20
 
 
Diesel cargo
diffs cif Med
per ton 
 
Oct flat
Oct +$37
 
 
 
 
 
 
 
 
Jet fuel 
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Jet fuel barge
diffs fob FARAG
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Jet fuel cargo
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CCM +$14.50
 
 
 
 
     
Fuel Oil
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0.5% barge fob ARA per ton
 
 
 
 
 
 
3.5% barge
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ICE Low Sulphur Gasoil 
LGOc1
Previous Close
ICE Low Sulphur Gasoil futures vs Brent futures (per barrel)
$86.99
$87.15
Diesel spread 
 
 

(Reporting by Ahmad Ghaddar; Editing by Kirsten Donovan)
((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net/))