Europe Distillates-Diesel margins edge higher

China Aviation Oil (Singapore)

15/11/2024 17:12

LONDON, Nov 15 (Reuters) - Northwest European diesel
barge profit margins edged higher to about $18 a barrel on
Friday as underlying crude prices softened, but a rise in
regional stocks limited further gains. 
    * Gasoil stocks independently held in the
Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose
by over 18% in the week to Nov. 14 to their highest in six
weeks, data from Dutch consultancy Insights Global showed.
    * Stocks stood at 2.42 million metric tons, rising as large
cargoes from the Middle East discharged in the region, Insight
Global's Lars van Wageningen said. He added that demand for
heating oil from inland locations was robust.
    * Lower prices helped to drive higher-than-expected OECD
gasoil
use in the third quarter, driving up overall oil demand, but
weak manufacturing and sluggish growth are likely to cap future
consumption, the International Energy Agency (IEA) said on
Thursday.
    * Higher diesel sales contributed to a small, 60,000 barrels
per
day upward revision in the IEA's 2024 global oil demand growth
forecast, the agency said in a monthly report, as lower prices
led to stock building ahead of the peak winter season.
    * EU and UK diesel and gasoil imports are on track to reach
1.08
million bpd this month, down from 1.26 million bpd in October,
Kpler data showed.

                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                  Dec                      
 diffs cif Med                 +$3                     
 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                            
 diffs cif              +$6                            
 NWE                                                   
 per tonne                                             
                                                   
 Diesel cargo                   Dec     Dec            
 diffs cif Med                 +$12.5  $10             
 per tonne                     0       (Malta          
  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                      CCM                      
 cargo                         -$2                     
 cif NWE per                                           
 tonne                                                 
  JET-CD-NWE                                           
     
 Fuel Oil      Trades   Bids   Offers  Previous  Seller  Buyer
                                       Session           
 0.5% barge                                               
 fob ARA per                                             
 tonne                                                   
 3.5% barge                                               
 fob ARA per                                             
 tonne                                                   
  HFO-ARA                                                
 ICE Low Sulphur          LGOc1           Previous
 Gasoil                                   
 Diesel ARA Barge        $18.13           $17.40
 Cracks vs Brent                           
 futures (per barrel)                     
 Diesel spread            LGOc1-LGOc2      
 
 (Reporting by Ahmad Ghaddar; Editing by Krishna Chandra Eluri)
 ((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters
Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))