Europe Distillates-Diesel profit margins slide further

Nis ad Novi Sad

25/11/2025 17:12

LONDON, Nov 25 (Reuters) - European diesel refinery profit margins dropped more than 2.5% on Tuesday as market participants weighed the prospect of a Ukraine peace deal that could lead to an easing of sanctions on major exporter Russia.

Low-sulphur gasoil futures LGOc1 traded at a premium of about $25.87 a barrel to Brent crude LCOc1 at 1700 GMT, down more than 70 cents from the previous close.

Serbia's Russia-owned NIS NIIS.BEL oil refinery will shut down in four days if the United States does not lift sanctions on the project, endangering fuel supplies ahead of winter, President Aleksandar Vucic said in a televised address on Tuesday.

The Balkan country does have enough fuel reserves in the short term, but a shutdown of its only refinery will halt production of gasoline, diesel and jet fuel and could hurt the country's economy, Vucic said.

Nigeria's Dangote has tapped Honeywell to provide services and help to double its refining capacity to 1.4 million barrels per day by 2028 in what is the clearest indication yet that its plans to become the world's largest petroleum refinery are bearing fruit.

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
TotalEnergies
Trafigura
Diesel cargo
diffs cif Med
per tonne
DL-CIFD-MED
Dec +$26
Dec + $29
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 flat
Dec + $38
CCM +$5


Fuel Oil
Trades
Bids
Offers
Previous Session
Seller
Buyer
0.5% barge fob ARA per tonne
$388
$394
3.5% barge
fob ARA per tonne HFO-ARA
$340
$346


ICE Low Sulphur Gasoil
LGOc1
Previous
ICE Low Sulphur Gasoil futures vs Brent futures (per barrel)
$25.87
$26.57
Diesel spread
LGOc1-LGOc2


 (Reporting by Enes Tunagur
Editing by David Goodman
)

 ((Enes.Tunagur@thomsonreuters.com;))