# Global refining margins soar as sanctions threaten Russian supplies | Reuters

> Global refining profits reached their highest in 20 months, with Singapore's complex refining margin near $9 a barrel. Diesel strength followed US sanctions on two major Russian suppliers and tighter supply expectations.

- Date: 2025-10-28 · published 2025-10-28T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/22593-global-refining-margins-soar-as-sanctions-threaten-russian-supplies-reuters
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Higher refining margins signal tight diesel supply after the Russia sanctions, which raises fuel and freight costs for grain and feed logistics. Refiners may run harder to capture margins, but the net effect is upward pressure on diesel prices.

## Read by commodity

- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2025-01-13 | [China, India seek new supplies as US sanctions tighten grip on Russian oil \| Reuters](https://feedsoft.ai/events/26685-china-india-seek-new-supplies-as-us-sanctions-tighten-grip-on-russian-oil.md) | +4.9% | -0.9% |
| DIESEL | 2025-11-20 | [Refining Margins Soar as Global Oil Product Markets Tighten \| OilPrice.com](https://feedsoft.ai/events/11480-refining-margins-soar-as-global-oil-product-markets-tighten-oilprice-com.md) | -11.9% | -19.2% |
| DIESEL | 2022-03-08 | [Global diesel prices soar as bans on Russian supplies add to tightness](https://feedsoft.ai/events/4724-global-diesel-prices-soar-as-bans-on-russian-supplies-add-to-tightness.md) | -17.0% | -7.9% |
| DIESEL | 2025-07-28 | [EU Russia sanctions add fuel to red-hot global diesel market](https://feedsoft.ai/events/23943-eu-russia-sanctions-add-fuel-to-red-hot-global-diesel-market.md) | -4.4% | -3.8% |
| DIESEL | 2026-03-05 | [Asia refining margins rocket to highest in nearly 4 years on Hormuz supply disruption \| Reuters](https://feedsoft.ai/events/5535-asia-refining-margins-rocket-to-highest-in-nearly-4-years-on-hormuz-supply.md) | +12.0% | +22.1% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/asia-refining-margins-soar-sanctions-threaten-russian-supplies-2025-10-28/

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