Europe distillates-diesel profit margins fall over 4%
USO•Diesel refining profit margins fell around 4.5% on Wednesday as distillate stocks rose. Low-sulphur gasoil futures traded at $75.67 a barrel, $3.52 below the previous close.
1. Stocks and supply
U.S. distillate inventories rose in the week ended October 16, while crude and gasoline stocks fell, the U.S. Energy Information Administration said. France secured an additional 295,000 tons of diesel from Gulf countries for October and November, while EU-27 and UK diesel and gasoil imports were on track to average about 829,000 barrels per day in October, compared with 773,000 bpd in September.
