OREANDA-NEWS. European crude and products stocks rose last month from a year earlier, but were marginally lower compared with May.

Total inventories stood at 1.1bn bl last month, a 3.8pc year-on-year increase, but a 0.3pc drop on the month.

Crude stocks were 495mn bl, up by 3.9pc from a year earlier and by 0.6pc from May, according to Euroilstock data for the 15 EU member states prior to the 2004 accessions, plus Norway.

Refinery crude intake was up by 9.3pc on the year, and unchanged from May, at 10.3mn b/d.

Middle distillate stocks were 2.4pc higher than in June 2014 at 393mn bl. This corresponds to a 1.6pc dip from May.

European gasoline inventories totalled 116mn bl last month, up by 8.6pc on the year and 0.1pc higher than a month earlier.

Fuel oil stocks rose by 2.2pc on the year and by 0.4pc on the month to 75mn bl, while naphtha stocks increased by 9.5pc from a year earlier to 25mn bl, unchanged from May.