Europe Distillates-Diesel profit margins decline further
26/11/2025 17:19
LONDON, Nov 26 (Reuters) - European diesel refinery profit margins dropped over 3% on Wednesday, remaining at a more than one-month low, on the prospect of a Ukraine peace deal that could return Russian exports of the fuel back to the market. Low-sulphur gasoil futures LGOc1 traded at a premium of about $24.87 a barrel to Brent crude LCOc1 at 1708 GMT, down more than 80 cents from the previous close. U.S. distillate stockpiles USOILD=ECI, which include diesel and heating oil, rose by 1.1 million barrels to 112.2 million barrels last week, the Energy Information Administration data showed, versus expectations for a 556,000-barrel rise in a Reuters poll,. Goldman Sachs said on Wednesday it estimated the risk premium for European diesel margins above their fair value has more than halved since last week to $7/bbl on peace talks headlines. "We see diesel margins declining by a further $6-$8/bbl if the peace talks succeed, with contributions from a lower risk premium and lower freight rates," the bank added. Meanwhile, EU-27 and UK diesel and gasoil imports have reached about 1.1 million bpd so far in November, Kpler data shows, compared with a one-year high of 1.19 million bpd in October.
| Trades | Bids | Offers | Previous Session | Seller | Buyer | |
| 0.1 GO Barge diffs fob ARA per tonne GO-ED-ARA | ||||||
| 0.1 GO Cargo diffs cif NWE per tonne GO-CND-NWE | ||||||
| 0.1 GO Cargo diffs cif Med per tonne GO-CND-MED | ||||||
| 50ppm barge diffs fob ARA per tonne GO50PPM-ED-ARA | ||||||
| Diesel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
| Diesel barge diffs fob ARA per tonne ULSD10-BD-ARA | ||||||
| Diesel cargo diffs cif NWE per tonne ULSD10-ANYD-NWE | Dec +$28 | |||||
| Diesel cargo diffs cif Med per tonne DL-CIFD-MED | Med +$22 | Vitol | BP | |||
| Jet fuel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
| Jet fuel barge diffs fob FARAG per tonne JET-BD-ARA | ||||||
| Jet fuel cargo cif NWE per tonne JET-CD-NWE |
| Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
| 0.5% barge fob ARA per tonne | $390 | $388 | ||||
| 3.5% barge fob ARA per tonne HFO-ARA | $346 | $340 |
| ICE Low Sulphur Gasoil | LGOc1 | Previous |
| ICE Low Sulphur Gasoil futures vs Brent futures (per barrel) | $24.87 | $25.67 |
| Diesel spread | LGOc1-LGOc2 |
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