Europe distillates-diesel profit margins firm
European diesel refinery profit margins rose by > 5% on Thursday despite a rise in regional inventories.
Gasoil stocks, which include diesel, held independently in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by over 9% to their highest since mid-June, data from Dutch consultancy Insight Global showed on Thursday.
Gasoil inventories stood at 2.03 MM tonnes (t) and rose on higher imports and lower demand inland as refineries there increased their output on profitable margins, Insight Global's Lars van Wageningen said.
U.S. distillate stockpiles, which include diesel and heating oil, rose by 2.3 MMbbl in the week to 116 MMbbl, versus expectations for a 0.9-MMbbl rise, U.S. Energy Information Administration (EIA) data showed.
EU and UK diesel and gasoil imports have reached 1.08 MMbpd so far in August, according to data from Kpler, up from July's 1.02 MMbpd.
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