LONDON: Diesel refining margins in northwest Europe rose by 1.2% on Thursday as oil futures rallied and data showed a drop in regional gasoil stocks.
Gasoil stocks in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by 6pc in the week to Thursday, data from Dutch consultancy Insights Global showed.
The fall in gasoil stocks, which include diesel and heating oil, was due to slower demand in inland markets and a lack of available barges along the Rhine river, Insight Global's Lars van Wageningen said.
US gasoil stocks also fell last week.
Russian pipeline monopoly Transneft said on Thursday that more contaminated oil had been found at a section of the Druzhba pipeline from Belarus to Poland, the RBC media portal said.
At least 570,000 tonnes of diesel are loading between June 24 and 29 alone to head to northwestern Europe, with some ships having options to go elsewhere, according to shipping data.
At least 480,000 tonnes of jet fuel are loading between June 18 and the end of the month in Asia and the Mideast Gulf to head to northwestern Europe, some with options to go elsewhere, according to shipping data.
Jet fuel imports into Europe are expected to rise to 1.4 million tonnes in July, weighing on prices amid limited demand, according to traders.
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