Europe crude, product stocks rise in October

LONDON: European crude and oil product stocks rose month-on-month in October, data from industry monitor showed on Friday, as refiners increased runs to benefit from firmer margins.

Oil and refined product stocks rose by a combined 1.0 percent over the month to 1,076.83 million barrels, and were up 2.9 percent year-on-year.

Oil refineries increased runs to benefit from soaring margins, particularly for diesel after many plants in Europe underwent maintenance, and demand from the Americas increased due to a fire at the Venezuelan Amuay refinery.