European diesel refining margins surge as U.S.-Iran conflict escalates
3/2/2026 12:00:00 PM
Benchmark European diesel refining margins rose nearly 25% on Monday, to their widest since November 20, as the U.S.-Iran conflict disrupted supplies in the Middle East.
Margins traded at $30.75 a barrel at 1020 GMT, up by nearly $6, after hitting a session high of $33.76 earlier.
Saudi Aramco shut its 550,000 barrel-per-day (bpd) Ras Tanura refinery on the kingdom's Gulf coast after it was hit by a drone, an industry source said.
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