Europe Distillates-Diesel refining margins slide

TotalEnergies SE

21/09/2026 18:06

LONDON, Sept 21 (Reuters) - European diesel refining margins slumped by nearly 7% on Monday, tracking sharp losses in crude oil prices on hopes of diplomatic progress on the Iran war emerging from this week's UN meeting and as the US pressed Ukraine to ease attacks on Russian refineries.
Low-sulphur gasoil futures LGOc1 traded at $82.50 a barrel above Brent crude futures LCOc1 by 1637 GMT, $6.02 lower than the previous close. 
Diesel prices rallied to record highs in Europe and the United States in recent weeks as wars in Iran and Ukraine sharply cut exports from big producers such as Russia, Saudi Arabia and the United Arab Emirates.
US President Donald Trump pressed his Ukrainian counterpart Volodymyr Zelenskiy in a call on Sunday to halt Kyiv's strikes on Russian refineries because of concerns that the attacks are exacerbating a global diesel shortage and pushing up prices, the Financial Times reported on Monday, citing unnamed sources.
Trump said on Monday that Russia has "lost control" of its diesel industry and again reprised his call for an end to Moscow's war with Ukraine.
Russia sharply increased diesel exports to Central Asian countries in August despite a ban on supplies to most foreign markets, traders said on Monday, citing recovering output.
 
Trades
Bids
Offers
Previous Session
Seller
Buyer
0.1 GO Barge
diffs fob ARA per ton
 
 
 
 
 
 
0.1 GO Cargo
diffs cif NWE per ton
 
 
 
 
 
 
0.1 GO Cargo
diffs cif Med per ton
 
 
 
 
 
50ppm barge diffs fob ARA per ton
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diesel
Trades
Bids
Offers
Previous Session
Seller
Buyer
Diesel barge
diffs fob ARA
per ton
 
 
 
 
 
Diesel cargo
diffs cif NWE 
per ton
 
Oct +$2; NWE +$8
 
 
Diesel cargo
diffs cif Med
per ton 
 
Oct +$35
 
 
 
 
 
 
 
 
 
Jet fuel 
Trades
Bids
Offers
Previous Session
Seller
Buyer
Jet fuel barge
diffs fob FARAG
per ton
 
 
 
 
 
 
 
Jet fuel cargo
cif NWE per ton
 
 
 CCM +$10
 
CCM + $25
 
 
     
Fuel Oil
Trades
Bids
Offers
Previous Session
Seller
Buyer
0.5% barge fob ARA per ton
 
 
 
 
 
 
3.5% barge
fob ARA per ton
 
 
 
 
 
 
     
ICE Low Sulphur Gasoil 
LGOc1
Previous Close
ICE Low Sulphur Gasoil futures vs Brent futures (per barrel)
$82.50
 $88.51
Diesel spread 
 
 

(Reporting by Ahmad Ghaddar
Editing by David Goodman)
((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net/))