European diesel margins drop over 7% on lower gasoil premium
European diesel margins declined by over 7% on Monday, as the premium for low-sulphur gasoil futures to Brent crude reduced by $5.52 to $70.79 per barrel by 1612 GMT. On Monday afternoon, BP sold an ultra-low sulphur diesel shipment scheduled for delivery to Gdynia, Poland. Despite active bidding, no cargoes changed hands in the Mediterranean trading window, with TotalEnergies being the sole offer.
The Perm oil refinery, Russia's seventh-largest oil processing facility by volume, ceased operations after a Ukrainian drone attack on August 21 caused fire and damage to technological units, according to two industry sources. EU-27 and UK diesel and gasoil imports are anticipated to average 724,000 barrels per day in August, up from 466,000 bpd in July, as per Kpler data.
The United States represents more than 50% of August imports with 446,000 bpd, according to the data.
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