Europe Distillates-Diesel margins hold steady

China Aviation Oil (Singapore)

13/11/2024 18:18

LONDON, Nov 13 (Reuters) - Northwest European diesel
barge profit margins were little changed on Wednesday, as
analysts expect a rise in U.S. distillate stocks over the last
week.
    * Diesel profit margins edged 2 cents lower on the day to
about
$17.24 a barrel on Wednesday.
    * Margins have recovered in the last month, after touching
their
lowest of 2024 to date at $12.86 on Oct. 14.
    * "European diesel demand begins to strengthen as winter
approaches, supported by stock draws and a widening
backwardation. Reduced inflows due to limited arbitrage
opportunities are also providing support," said LSEG analyst
Rakesh Varma. 
    * In the Mediterranean diesel market, AGT sold a 27,000
metric ton
diesel cargo to BP with Nov. 25-29 dates at Med cargoes +$2.00
CIF Koper.
    * On Tuesday, Greece's Hellenic was heard to be offering a
ULSD
cargo through a tender for 20-27 November loading. 
    * Petroineos withdrew an offer for a 0.1% gasoil cargo with
Dec.
3-7 dates at Ice December low-sulphur gasoil futures plus $5.00
FOB Barcelona.
    * U.S. crude oil and product stockpiles were expected to
have
risen last week, an extended Reuters poll showed on Wednesday.
    * Analysts expect distillate inventories  USOILD=ECI , which
include diesel and heating oil, to have increased by about
200,000 barrels last week.
    * U.S. weekly crude and fuel inventory data from the Energy
Information Administration will be released on Thursday, a day
later than the usual Wednesday publication, owing to the
veterans day holiday earlier this week.
    * Russia's seaborne oil product exports in October fell 7%
from a
month earlier to 8.861 million metric tons due to seasonal and
unplanned maintenance at refineries, data from industry sources
and Reuters calculations showed.
    * EU and UK diesel and gasoil imports are on track to reach
1.41
million barrels per day this month, up from 1.26 million bpd in
October, Kpler data showed.

                 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                   Dec                      
 diffs cif Med                  +$5                      
 per tonne                                               
  GO-CND-MED                                             
 50ppm barge                                             
 diffs fob ARA                                           
 per tonne                                               
                                                       
                                                         
 Diesel          Trades  Bids   Offers  Previou  Seller  Buyer
                                        s                
                                        Session          
 Diesel barge                                            
 diffs fob ARA                                           
 per tonne                                               
                                                        
 Diesel cargo                           Dec +$8          
 diffs cif NWE                          (Thames          
 per tonne                              )                
                                                      
 Diesel cargo    Med                             AGT     BP
 diffs cif Med   +$2                                     
 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                         CCM              
 cif NWE per                            -$2.50           
 tonne                                  (IoG)            
  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 Gasoil   LGOc1           Previous
 Diesel ARA Barge        $17.24           $17.26
 Cracks vs Brent                          
 futures (per barrel)                     
 Diesel spread            LGOc1-LGOc2     
 
 (Reporting by Robert Harvey; Editing by Shinjini Ganguli)
 ((Robert.Harvey@thomsonreuters.com; +447552256587;))