European diesel margins drop 3% from record levels

European diesel margins fell by nearly 3% on Thursday, according to Investing.com. The decrease was due to falling oil prices and stable inventory levels. Gasoil futures were trading at $86.66 per barrel above Brent crude, down from the previous day's high of $91.67. The stock of gasoil and diesel in the Amsterdam-Rotterdam-Antwerp refining and storage hub remained largely unchanged at 1.65 million tons, with no imports recorded during the period.

The hub anticipates eight cargoes for offloading by the end of the month. Union Pacific reported on Wednesday that higher diesel prices were prompting some shippers to switch freight from trucks to rail transportation. French Prime Minister Sebastien Lecornu called on ministers to extend targeted support for sectors impacted by rising fuel prices until the end of the year.