Europe downstream oil month in brief: Greenergy enters the Irish market with Inver Energy acquisition
Greenergy has fulfilled its long-term ambition to enter the Irish fuels market by acquiring the entire share capital of independent fuel supplier, Inver Energy. Our European benchmark refining margins set new seasonal highs in June, as both were stronger versus the previous month. Gasoline and jet crack spreads were stronger in NWE but down slightly in the Med, whereas diesel and gasoil crack spreads were relatively flat in both regions. European retail diesel gross margins increased slightly, supported by relatively low wholesale costs, whereas gasoline retail margins remained broadly flat in June.