Europe Distillates-Diesel refining margins rise further

Glencore

08/10/2026 17:46

LONDON, Oct 8 (Reuters) - European diesel-refining margins rose about 3% on Thursday, extending gains from the previous session, as Middle East tensions escalated and details on further emergency stock releases remained thin.
Low-sulphur gasoil futures LGOc1 traded at $81.16 a barrel above Brent crude futures LCOc1 at 1626 GMT, $2.45 higher than the previous close
Oil prices jumped on Thursday on persistent worries about supply from the Middle East amid an increase in attacks on shipping in the Gulf and the Strait of Hormuz, while the US cut output as a hurricane menaced offshore production O/R
Italy has fully met its commitments under a March oil stocks release plan coordinated by the International Energy Agency and is open to providing more once other European countries meet theirs, an Italian government official told Reuters on Thursday
Rome's pledge in March was for 10 million barrels and IEA data shows that involved oil products only drawn from industry stocks
France on Wednesday announced a 10-million-barrel release from its emergency diesel reserves
Germany, one of the biggest distillate markets in Europe, is yet to provide details on its plans 
Jet fuel stocks independently held in the Amsterdam-Rotterdam-Antwerp refining and storage hub rose around 10% on the week, data from Dutch consultancy Insights Global showed on Thursday. ARA/
Stocks of aviation fuel rose to 479,000 metric tons on increased imports from Nigeria and South Korea, but were still near their 2020 lows, Insights Global's Lars van Wageningen said
Gasoil and diesel stocks meanwhile fell around 2.2% to 1.78 million tons as demand slightly improved, with more imports expected from the US in the coming weeks
 
 
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 (Reporting by Ahmad Ghaddar; Editing by Joyjeet Das)
 ((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))