European diesel margins reach record highs on refinery issues

European diesel margins hit record highs on Monday due to refinery issues, according to latest data. Low-sulphur gasoil futures traded at a $78.36 per barrel premium to Brent crude futures, marking a $5.49, or 7.5% increase from the previous day's close. Vitol sold an ultra-low sulphur diesel cargo to Aramco, contributing to the margin gains.

A Russian oil refinery in Yaroslavl suspended operations at two of its three crude distillation units after a drone attack on August 28. Slavneft-Yaroslavnefteorgsintez halted oil processing at the affected units. Asia's diesel exports to Africa were forecast to reach a 4-1/2-year high in August, as European and UK imports were expected to average 732,000 barrels per day, up from 466,000 barrels per day in July, making it the highest since May.