Europe Distillates-Diesel refining margins ease

TotalEnergies SE

06/10/2026 17:27

LONDON, Oct 6 (Reuters) - European diesel refining margins fell by about 5% on Tuesday, weighed by expectations for a release of emergency stocks, though renewed Ukrainian attacks on Russian refining limited losses.
Low-sulphur gasoil futures LGOc1 traded at $70.70 a barrel above Brent crude futures LCOc1 at 1617 GMT, $3.67 lower than the previous close.
The governing board of the International Energy Agency is expected to decide at an October 14-15 meeting the details of the diesel and crude oil stocks release announced by the Group of Seven last week, two people close to the matter said.
Russia's Volgograd oil refinery halted crude oil processing completely on October 2 after equipment was damaged by a drone attack, two industry sources told Reuters on Tuesday. REF/OUT
US President Donald Trump signed an executive order on Monday to expand access to tax-exempt diesel that he unveiled from a rally stage in Nebraska.
Gulf oil flows excluding Iran surged to over 81% of pre-war levels in September, data showed, led by a recovery in Saudi exports despite attacks on the kingdom's oil infrastructure and escalating Iranian attacks on regional shipping, while Iranian exports fell to zero due to a US blockade.
The European Union plans to delay methane emissions rules for oil and gas imports by one year, but no longer than that despite calls from some member states for a bigger reprieve, EU energy commissioner Dan Jorgensen said on Tuesday.
     
 
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 (Reporting by Ahmad Ghaddar; Editing by Diti Pujara)
 ((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))