Escalating violence in Iraq caused outright European diesel prices to surge even though spot cargo premiums are still under pressure from heavy US and Russian imports. Underlying front-month ICE gasoil futures were up almost $8 per metric ton on the week, while cargo trades in the most recent price-setting window established premiums at $14/ton over the July screen in northwest Europe and August plus $15/ton in the Mediterranean - both barely changed on the week.
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