Diesel supply in Europe is extremely tight, with refining margins hitting record highs

智通财经2026/07/20 03:01

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(1) Morgan Stanley pointed out that due to a series of major supply challenges, Europe is facing a tightening diesel supply situation. Refining profits in the region have soared to historic highs, while diesel inventories continue to decline.(2) Analysts, including Martijn Rats, stated in a report that according to their supply and demand model prediction, by the end of this year, European diesel inventories will drop to the lowest level in years.(3) Analysts emphasized that the real bottleneck in the current oil system is at the refining stage, not in the crude oil supply itself. Meanwhile, some African oil cargos have yet to be sold, and forward market prices have shown a bearish trend.(4) The core of all issues centers on the European diesel market, which is the key to the current supply tightness.

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The US dollar index, which measures the dollar against six major currencies, rose by 0.19% on the day to close at 100.957 in late trading on the forex market. By the end of trading in New York, 1 euro was exchanged for 1.1415 US dollars, lower than the previous trading day's 1.1436 US dollars; 1 pound sterling was exchanged for 1.3436 US dollars, lower than the previous day's 1.3454 US dollars. One US dollar could be exchanged for 162.50 Japanese yen, higher than the previous day's 162.45 yen;

智通财经•2026/07/20 19:46