Europe distillates-diesel profit margins fall
USO•Northwest European diesel refining margins fell nearly 5% on Thursday. Low-sulphur gasoil futures traded at a $69.21-a-barrel premium to Brent, down about $3.60 from the previous close.
1. Margins and inventories
Northwest European diesel refining margins fell nearly 5% on Thursday. Gasoil stocks in the Amsterdam-Rotterdam-Antwerp hub edged up 0.2% from the previous week to 1.79 million tons, nearly 22% below the year-earlier level. US distillate stockpiles rose 4.1 million barrels to 103.3 million, against expectations for a 1 million-barrel decline.
