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European diesel margins increase with G7 reserves
Diesel refining margins in Europe have increased by more than 8% after a sharp decline last week, amid anticipation of details regarding the implementation mechanism of the G7's decision to release 100 million barrels of fuel from emergency reserves. Diesel futures above Brent crude rose to $73.26 per barrel, with expectations that replenishing inventories could take up to two years. These measures are considered an attempt to boost oil supplies and reduce rising prices in the European market.
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