Europe Distillates-Diesel profit margins drop more than 3%
01/12/2025 17:29
LONDON, Dec 1 (Reuters) - European diesel refinery profit margins fell by over 3% on Monday as underlying crude prices firmed. Low-sulphur gasoil futures LGOc1 traded at a premium of about $25.37 a barrel to Brent crude LCOc1 at 1709 GMT, down 91 cents from the previous close. No cargo trades emerged during the afternoon trading window despite a flurry of bid and offer activity in the north Europe and Mediterranean markets. Manufacturing was weak in the U.S. as well as in Europe and Asia's biggest economies in November, business surveys showed on Monday, as subdued domestic demand and tariff uncertainties weighed. Weaker manufacturing demand typically weighs on diesel demand. Global commodity trading house Gunvor's [RIC:RIC:GGL.UL] CEO Torbjorn Tornqvist will step down and sell his shareholding in a management buyout, weeks after the U.S. dubbed the firm the "Kremlin's puppet" over its past Russian links. EU-27 and UK diesel and gasoil imports have reached about 1.07 million bpd in November, Kpler data showed, below 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 +$19.75 | Dec +$14 | ||||
| Diesel cargo diffs cif Med per tonne DL-CIFD-MED | Dec +$15 | Med +$10 | ||||
| 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 | CCM -$4 |
| Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
| 0.5% barge fob ARA per tonne | $390 | $390 | ||||
| 3.5% barge fob ARA per tonne HFO-ARA | $352 | $354 |
| ICE Low Sulphur Gasoil | LGOc1 | Previous |
| ICE Low Sulphur Gasoil futures vs Brent futures (per barrel) | $25.37 | $26.28 |
| Diesel spread | LGOc1-LGOc2 |
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