Europe Distillates-Diesel margins edge higher, fire hits Turkish refinery

China Aviation Oil (Singapore)

05/11/2024 17:00

LONDON, Nov 5 (Reuters) - Northwest European diesel
barge profit margins rose slightly to about $17.40 a barrel on
Tuesday, boosted by firmer demand, and as a fire hit one of
Turkey's refineries.
    *         A fire at the site of Turkey's top oil refiner
Tupras
during work on a compressor lightly injured 12 people in the
country's northwest, the company said on Tuesday.
      
    *         The fire was under control and the unit was
deactivated,
Tupras said in a statement, adding that the wounded were sent to
hospital in Kocaeli province. Other operations in the refinery
carried on as usual, it said.
      
    *         It wasn't immediately clear if the fire impacted
fuel
production there.  
      
    * "The European diesel market has seen a rebound over the
week
driven by rising inland demand and notable stock draws,
contributing to improved margins; however, a resurgence of local
refinery operations and increased supply could potentially limit
price increases, particularly if winter demand in the region
remains subdued going ahead," LSEG analyst Rakesh Varma said.
    * EU and UK diesel and gasoil imports reached about 1.26
million
barrels per day in October, slightly above September levels,
Kpler data showed.
    * November imports are set to reach 941,000 bpd, Kpler data
showed. 
    * Varma said that large volumes of Indian diesel exports are
being
redirected to the East this month, which will lead to lower
arrivals into Europe.


                   Trades  Bids   Offers  Previou  Seller  Buyer
                                          s                
                                          Session          
 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                     MCM                      
 diffs cif Med                    +$1                      
 per tonne                                                 
  GO-CND-MED                                               
 50ppm barge                                               
 diffs fob ARA                                             
 per tonne                                                 
  GO50PPM-ED-ARA                                           
                                                           
 Diesel            Trades  Bids   Offers  Previou  Seller  Buyer
                                          s                
                                          Session          
 Diesel barge                                              
 diffs fob ARA                                             
 per tonne                                                 
  ULSD10-BD-ARA                                            
 Diesel cargo                                              
 diffs cif NWE                                             
 per tonne                                                 
                                                          
 Diesel cargo              Dec    Nov                      
 diffs cif Med             +$8    +$14                     
 per tonne                                                 
  DL-CIFD-MED                                              
                                                           
 Jet fuel          Trades  Bids   Offers  Previou  Seller  Buyer
                                          s                
                                          Session          
 Jet fuel barge                                            
 diffs fob FARAG                                           
 per tonne                                                 
  JET-BD-ARA                                               
 Jet fuel cargo                                            
 cif NWE per                                               
 tonne                                                     
  JET-CD-NWE                                               
 
 Fuel Oil      Trades   Bids   Offers  Previous  Seller  Buyer
                                       Session           
 0.5% barge    $515-$5                 $500-$51          
 fob ARA per   20                      7                 
 tonne                                                   
 3.5% barge    $447-$4                 $433-$44          
 fob ARA per   68                      9                 
 tonne                                                   
  HFO-ARA                                                
 ICE Low Sulphur Gasoil   LGOc1           Previous
 Diesel ARA Barge        $17.37           $17.11
 Cracks vs Brent                          
 futures (per barrel)                     
 Diesel spread            LGOc1-LGOc2     
 
 (Reporting by Ahmad Ghaddar; Editing by Devika Syamnath)
 ((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters
Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))