LONDON: Diesel differentials in northwest Europe edged higher on Wednesday ahead of the front-month futures expiry on Thursday, shrugging off higher inventories on both sides of the Atlantic.
US distillate stockpiles, which include diesel and heating oil, rose by 3.7 million barrels, versus expectations for a 739,000-barrel increase, data from the Energy Information Administration showed on Wednesday.
Diesel futures' held around $3.5 a tonne, still indicating plentiful supplies in the region after imports from Asia, the Middle East and the US Gulf Coast rose in recent weeks.
ARA gasoil stocks rose 6.3pc in the week to July 4 on higher imports from India, Russia and the United States, though demand up the Rhine river was fairly strong, said Dutch consultancy Insights Global.
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