# Diesel Margins Rally as Russian Exports Plunge - OPIS, A Dow Jones Company

> Global diesel margins surged to some of their highest levels in two years, with Northwest Europe ULSD cargoes reaching $781/mt on November 11. The rally follows a sharp drop in Russian diesel and gasoil exports, which fell below 3.0 million mt in September and October, after Ukrainian drone strikes on refineries and export terminals. U.S. sanctions on Lukoil and Rosneft, taking effect November 21, are expected to constrain exports further.

- Date: 2025-11-12 · published 2025-11-12T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/22121-diesel-margins-rally-as-russian-exports-plunge-opis-a-dow-jones-company
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Tighter Atlantic-basin diesel supply lifts diesel costs for freight and farm operations, and the downstream squeeze is pushing up product prices even though crude remains relatively well supplied.

## Read by commodity

- BRENT: neutral
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2025-11-19 | [Europe Diesel Crack Hits Two-Year High on Supply Fears - OPIS, A Dow Jones Company](https://feedsoft.ai/events/11479-europe-diesel-crack-hits-two-year-high-on-supply-fears-opis-a-dow-jones-company.md) | -12.6% | -19.7% |
| DIESEL | 2026-10-27 | [Oil Companies Warned Over Russian Diesel Imports](https://feedsoft.ai/events/946-oil-companies-warned-over-russian-diesel-imports.md) | -3.9% | — |
| DIESEL | 2026-10-27 | [Oil Companies Warned Over Russian Diesel Imports](https://feedsoft.ai/events/951-oil-companies-warned-over-russian-diesel-imports.md) | -3.9% | — |
| DIESEL | 2026-09-17 | [Midwest Ethanol Margins Compress as Diesel Rally Outruns Gasoline \| InfoHandle Network](https://feedsoft.ai/events/17458-midwest-ethanol-margins-compress-as-diesel-rally-outruns-gasoline-infohandle.md) | -6.6% | -7.9% |
| DIESEL | 2026-10-27 | [Oil Companies Warned Over Russian Diesel Imports \| Newstalk 1400 , 104 . 5 , and 105 . 9 WJMX](https://feedsoft.ai/events/941-oil-companies-warned-over-russian-diesel-imports-newstalk-1400-104-5-and-105-9.md) | -3.9% | — |
| BRENT | 2025-11-19 | [Europe Diesel Crack Hits Two-Year High on Supply Fears - OPIS, A Dow Jones Company](https://feedsoft.ai/events/11479-europe-diesel-crack-hits-two-year-high-on-supply-fears-opis-a-dow-jones-company.md) | -2.5% | -8.4% |
| BRENT | 2025-10-29 | [Diesel rally sparked by Western sanctions on Russia will be short-lived \| Reuters](https://feedsoft.ai/events/22592-diesel-rally-sparked-by-western-sanctions-on-russia-will-be-short-lived-reuters.md) | +0.8% | -1.5% |
| BRENT | 2025-10-28 | [Diesel Prices Jump on Russia Sanctions and Refinery Outages - Bloomberg](https://feedsoft.ai/events/22594-diesel-prices-jump-on-russia-sanctions-and-refinery-outages-bloomberg.md) | -0.4% | -2.2% |

## Sources

- opis.com: https://www.opis.com/resources/energy-market-news-from-opis/diesel-margins-rally-as-russian-exports-plunge/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.