European diesel refining margins fall below $80 as Red Sea loadings restart
European diesel refining margins fell more than 5% on Tuesday; low-sulphur gasoil futures traded $77.47 a barrel above Brent by 1648 GMT, down $4.50.
LONDON, Sept 29 (Reuters) — European diesel refining margins fell by more than 5% on Tuesday as Saudi Arabia restarted oil loadings at the Red Sea port of Yanbu, a key hub for diesel exports. 50 lower than the previous close. The White House has urged the European Union to draw down diesel emergency inventories in a bid to lower global prices, according to sources. The European Union's oil and oil products supplies remain stable, despite surging diesel and jet fuel prices that reflect tightening global supply linked to the conflict in the Middle East, the European Commission said in a statement on Tuesday.
Italy on Tuesday will ask US energy secretary about a potential ban on diesel export, Italy's Energy Minister Gilberto Pichetto Fratin said, adding he would speak with US Chris Wright in the afternoon. European Energy Commissioner Dan Jorgensen said on Tuesday he had discussed a possible release of oil stocks with International Energy Agency chief Fatih Birol. com)