finance
European Diesel Refining Margins Hit Record Above $60 per Barrel as Fuel Prices Rise
Diesel margins in Europe reached over $60 per barrel on July 9. The NYMEX 3-2-1 crack spread also set a record at $64.58 per barrel on July 8 amid export bans and low inventories.
Jul 10, 5:30 AM·1m read2 sources
moneycontrol.comAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
European diesel refining margins reached a record high above $60 per barrel on July 9. OilPrice.com reported that the increase followed Russia's announcement of a ban on diesel exports. The prompt NYMEX 3-2-1 crack spread contract, a proxy for refinery profitability, hit $64.58 per barrel on July 8.
Gasoline in Europe traded at a $41 per barrel premium to crude, the highest level since the summer of 2022. OilPrice.com reported that Ukrainian drone attacks on Russian refineries contributed to Russia's domestic fuel shortage and prompted the export ban. U.S.
Diesel stocks sit near five-year lows, and multi-year low fuel inventories exist in several countries. Refining margins for both gasoline and diesel rose to new record highs this week, according to OilPrice.com. The data were compiled by Reuters.
Transparency
How sources framed this
These outlets didn't split into competing frames — coverage was uniform.
CorroborationModerate · 2 sources
/investing2-5bfc2b8fc9e77c005143f176.jpg)