Group 1 - Diesel refining profits are expected to decline from current high levels but will remain above long-term averages due to tight global processing capacity [1][2] - Recent strong performance in the industrial fuel market is attributed to declining global inventories and a significant rise in financial demand [1] - Unexpected shutdowns of European refineries and a lack of crude types suitable for producing distillate fuels have exacerbated the tightness in the diesel market [1] Group 2 - Diesel inventories in the U.S. are at their lowest seasonal levels since 1996, despite a slight increase last week [2] - In Singapore, middle distillate inventories, including diesel, have dropped to the lowest levels since February 2024 [2] - Diesel refining profits are projected to be approximately $10 per barrel higher than the average from 2013 to 2019 in the second half of this year and in 2026 [2] - European refining profits are expected to rise to $23 per barrel from a previous $19, while U.S. heating oil profits are expected to increase to $28 per barrel from $23 [2] - The global expansion of refining capacity is slowing, with daily capacity growth expected to decrease from 1.2 million barrels in 2023-2024 to 500,000 barrels in 2025-2026, supporting high refined product profits [2]