Europe Distillates-Diesel margins dip after large US inventory build

China Aviation Oil (Singapore)

04/12/2024 16:51

LONDON, Dec 4 (Reuters) - Northwest European diesel
profit margins softened by around 50 cents to $17 a barrel on
Wednesday after data showed a much larger than expected build in
U.S. inventories.

    * U.S. distillate stockpiles, which include diesel and
heating
oil, rose last week by 3.4 million barrels 118.1 million
barrels, versus expectations for a 900,000-barrel rise, EIA data
showed.
    * Shell completed a two-month long maintenance shutdown at
its
400,000 barrel per day Pernis oil refinery in Rotterdam in the
Netherlands on Wednesday and is currently restarting units at
the plant, the company saidon X.
    * Russia's exports of ultra low-sulphur diesel (ULSD) from
the
Baltic Sea port of Primorsk are set to rise by 23.2% in December
to 1.4 million metric tons from 1.1 million scheduled for
November, two traders said on Tuesday.
    * Meanwhile, EU and UK diesel and gasoil imports are
forecast to
reach about 833,000 barrels per day (bpd) in December, according
to Kpler, compared with 1.03 million bpd last month.

                Trades  Bids    Offers    Previo  Seller  Buyer
                                          us              
                                          Sessio          
                                          n               
 0.1 GO Barge                                              
 diffs fob ARA                                            
 per tonne                                                
  GO-ED-ARA                                               
 0.1 GO Cargo                                              
 diffs cif NWE                                            
 per tonne                                                
  GO-CND-NWE                                              
 0.1 GO Cargo                                              
 diffs cif Med                                            
 per tonne                                                
  GO-CND-MED                                              
 50ppm barge                                               
 diffs fob ARA                                            
 per tonne                                                
                                                       
                                                           
 Diesel         Trades  Bids    Offers    Previo  Seller  Buyer
                                          us              
                                          Sessio          
                                          n               
 Diesel barge                                              
 diffs fob ARA                                            
 per tonne                                                
                                                        
 Diesel cargo                   Dec +$11                  
 diffs cif                                                
 NWE                                                      
 per tonne                                                
                                                      
 Diesel cargo           Dec                               
 diffs cif Med          +$4                               
 per tonne                                                
  DL-CIFD-MED                                             
                                                           
 Jet fuel       Trades  Bids    Offers    Previo  Seller  Buyer
                                          us              
                                          Sessio          
                                          n               
 Jet fuel                                                  
 barge                                                    
 diffs fob                                                
 FARAG                                                    
 per tonne                                                
  JET-BD-ARA                                              
 Jet fuel                       Dec +$33                   
 cargo                                                    
 cif NWE per                                              
 tonne                                                    
  JET-CD-NWE                                              
     
 Fuel Oil      Trades   Bids   Offers  Previous  Seller  Buyer
                                       Session           
 0.5% barge                            $482.50           
 fob ARA per                                             
 tonne                                                   
 3.5% barge                            $438.25           
 fob ARA per                                             
 tonne                                                   
  HFO-ARA                                                
 ICE Low Sulphur          LGOc1           Previous
 Gasoil                                   
 Diesel ARA Barge        $17              $17.61
 Cracks vs Brent                          
 futures (per barrel)                     
 Diesel spread            LGOc1-LGOc2      
 
 (Reporting by Ron Bousso; Editing by Krishna Chandra Eluri)
 ((Ron Bousso
email: ron.bousso@thomsonreuters.com
Twitter: https://twitter.com/ronbousso1
Tel.: +44 (0)207 542 2161
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