Europe Distillates-Diesel margins hold steady

China Aviation Oil (Singapore)

08/11/2024 17:31

LONDON, Nov 8 (Reuters) - Northwest European diesel
barge profit margins were broadly steady at about $16.30 a
barrel on Friday, as a fall in regional inventories gives the
market some support.
    * Traders said unfavourable arbitrage economics from Asia
was
supporting the European distillate market. 
    * Gasoil stocks independently held in the
Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell
by 2.4% in the week to Thursday, data from Dutch consultancy
Insights Global showed.
    * Stocks stood at 2.04 million metric tons, falling on
slower
imports and firmer inland demand, Insight Global's Lars van
Wageningen said.
    *         EU and UK diesel and gasoil imports are on track
to
reach 895,000 barrels per day this month, down from, 1.26
million bpd in October, Kpler data show.
      
    * Falling water levels on the Rhine are limiting barge
capacity to
about 1,326 tons, brokers Riverlake said, added that levels were
expected to fall further in the coming days before rising again
with more rainfall from next week.
    *         Neste  NESTE.HE  has temporarily shut down its
refinery
in Rotterdam, the Netherlands due to a fire, it said on Friday,
and lowered its full-year guidance for renewable products sales
volumes.
      

                   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              Med                             
 diffs cif Med             -$4                             
 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              Nov                             
 diffs cif NWE             +$9                             
 per tonne                 (Tham                           
                          Nov                             
                           +$18                            
                           (Gdyn                           
                           ia)                             
 Diesel cargo              Nov    Dec                      
 diffs cif Med             +$11.  +$7                      
 per tonne                 25                              
  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    $497-$5                 $507-$50          
 fob ARA per   00                      9                 
 tonne                                                   
 3.5% barge    $450-$4                 $444-$45          
 fob ARA per   70                      6                 
 tonne                                                   
  HFO-ARA                                                
 ICE Low Sulphur Gasoil   LGOc1           Previous
 Diesel ARA Barge        $16.31           $16.27
 Cracks vs Brent                          
 futures (per barrel)                     
 Diesel spread            LGOc1-LGOc2     
 
 (Reporting by Ahmad Ghaddar, Editing by Louise Heavens)
 ((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters
Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))