Europe Distillates-Diesel refining margins rebound

Glencore

30/09/2026 18:01

LONDON, Sept 30 (Reuters) - European diesel refining margins rose on Wednesday, as Russia extended its export ban and as US stocks fell.
Low-sulphur gasoil futures LGOc1 traded at $86.71 a barrel above Brent crude futures LCOc1 at 1630 GMT, $8.16 higher than the previous close.
Vitol bid for a Mediterranean diesel cargo at a $5 discount to ICE Gasoil October futures in the Platts window.
US distillate stockpiles, which include diesel and heating oil, fell by 2.3 million barrels in the week to 105.2 million barrels, versus expectations for a 190,000-barrel drop, data from the Energy Information Administration showed.
 Russia has extended its ban on diesel exports for fuel producers until the end of October, the government said on Wednesday, adding further strain to a global energy market already rattled by ongoing conflicts and supply shortages.
Seaborne imports of motor fuels to Russia fell by about 24% month-on-month in September to 350,000 metric tons, while Moscow continued to struggle with oil products shortages in several regions following Ukrainian drone strikes on key refineries, according to industry sources, LSEG data and Reuters calculations.
Serbia has secured a further sanctions waiver from the United States for ​its Russian-owned NIS firm until October 30, the country's outgoing energy minister Dubravka Djedovic Handanovic said on Wednesday.
Greece will raise diesel fuel discounts and extend them through mid-October in an ongoing effort to curb the impact of surging fuel costs on households and businesses.
India's state-run Mangalore Refinery and Petrochemicals Ltd (MRPL) on Wednesday cancelled three spot export tenders for refined fuels after a fire broke out at a processing unit.
     
 
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ICE Low Sulphur Gasoil 
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Previous Close
ICE Low Sulphur Gasoil futures vs Brent futures (per barrel)
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 (Reporting by Robert Harvey; Editing by Perla Velasco)
 ((robert.harvey@tr.com))