Europe Distillates-Diesel profit margins fall

LONDON, Oct 29 (Reuters) - Northwest European diesel refining margins dropped on Thursday, as Russia aid it will extend its diesel ban and introduce quotas to allow some firms to export diesel.

• Low-sulphur gasoil futures traded at a $71.18 a barrel premium to Brent crude futures by 1745 GMT, $3.14 lower than the previous close.

• Russia will extend its diesel export ban until the end of the year while allowing some companies to ship fuel under a quota system ​to meet its new export commitment to the US, two people familiar ‌with the discussions told Reuters.

• The first Russian diesel bound for the US following a surprise agreement reached between Moscow and US President Donald Trump is aboard a tanker heading for New York, ship-tracking data showed.

• Gasoil and diesel stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub were down 3% to 1.72 million tons, data from Dutch consultancy Insights Global showed on Thursday.

• Jet fuel stocks independently in the ARA hub fell to their lowest since 2014 on the week, the data showed.

• Fuel oil stocks fell 18% to 762,000 tons.