Europe Distillates-Diesel profit margins edge lower
Europe Distillates-Diesel profit margins edge lower LONDON, Nov 2 (Reuters) - Northwest European diesel refining margins eased on Monday as growing hopes for a diplomatic end to the Iran war weighed on prices.
Low-sulphur gasoil futures LGOc1 traded at a $69.56 per barrel premium to Brent crude futures LCOc1 by 1712 GMT, 50 cents lower than the previous close.
The world has eroded its supply buffers by draining nearly 1 billion oil barrels from global inventories since the US-Israeli war on Iran disrupted shipping through the Strait of Hormuz, the CEO of Abu Dhabi's state-owned oil company ADNOC said.
Diesel stockpiles in some areas are at 35-year lows for this time of the season, while others face an LNG supply gap of 600 billion cubic feet, Sultan Al Jaber said on Monday at the UAE's ADIPEC conference.
Eu-27 and UK diesel and gasoil imports reached 829,000 bpd in October, Kpler data showed, up slightly from 803,000 bpd in September. Jet fuel imports, meanwhile, rose to 594,000 bpd, their highest since September 2025.
| Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.1 GO Barge diffs fob ARA per ton |
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0.1 GO Cargo diffs cif NWE per ton |
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0.1 GO Cargo diffs cif Med per ton |
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50ppm barge diffs fob ARA per ton
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Diesel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Diesel barge diffs fob ARA per ton |
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Diesel cargo diffs cif NWE per ton |
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Diesel cargo diffs cif Med per ton |
| Med +$13 |
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Jet fuel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Jet fuel barge diffs fob FARAG per ton
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Jet fuel cargo cif NWE per ton
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Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per ton |
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3.5% barge fob ARA per ton |
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ICE Low Sulphur Gasoil | LGOc1 | Previous Close |
ICE Low Sulphur Gasoil futures vs Brent futures (per barrel) | $69.56 | $70.06 |
Diesel spread |
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(Reporting by Ahmad Ghaddar; Editing by Shilpi Majumdar)
((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))