Europe Distillates-Diesel margins edge lower on higher supplies

China Aviation Oil (Singapore)

03/12/2024 17:46

LONDON, Dec 3 (Reuters) - Northwest European diesel
profit margins softened by about 50 cents to $17.80 a barrel on
Tuesday on expectations that Russian supplies will rise this
month.

    * In the Platts window, Aramco Trading and TotalEnergies
sought
ULSD cargoes in the Mediterranean for a second consecutive
session, while Petroineos posted an offer. A Gunvor offer was at
front month diesel futures +$13 a barrel was withdrawn. In the
Mediterranean high-sulphur gasoil cargo market, Bayegan again
sought a cargo, without attracting any selling interest. Gunvor
offered a UK winter grade cargo for Amsterdam delivery. 
    *         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.
      
    *         Diesel exports are increasing on rising fuel
production
as seasonal maintenance — and unplanned work — on refineries was
completed, market sources added.
      
    *         Russia expects to have 1.1 million tons of
refining
capacity offline in December, down from 2.4 million in November,
Reuters calculations based on data from industry sources show.
      
    *         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        $17.80           $18.30
 Cracks vs Brent                          
 futures (per barrel)                     
 Diesel spread            LGOc1-LGOc2      
 
 (Reporting by Ahmad Ghaddar; Editing by Alan Barona)
 ((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters
Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))