Europe Distillates-Diesel margins rise as regional inventories fall

China Aviation Oil (Singapore)

31/10/2024 17:20

LONDON, Oct 31 (Reuters) - Northwest European diesel
barge profit margins rose about 50 cents to $16.16 a barrel on
Thursday, supported by a sharp fall in regional inventories and
firmer demand.
    * Gasoil stocks independently held in the
Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell
by 5.5% in the week to Thursday, data from Dutch consultancy
Insights Global showed.
    * Stocks stood at 2.01 million metric tons, and fell because
of
slower imports and stronger inland demand as buyers there
accelerated their stockbuilding ahead of winter, Insight
Global's Lars van Wageningen said.
    * Jet fuel inventories, meanwhile, were down over 9% to
921,000
tons on limited imports from Asia, Wageningen said.
    * U.S. distillate stockpiles  USOILD=ECI , which include
diesel
and heating oil, fell 1 million barrels to 112.9 million barrels
last week, versus expectations for a 1.6 million-barrel drop in
a Reuters poll, Energy Information Administration data showed.
    * Russia's exports of ultra low-sulphur diesel (ULSD) from
the
Baltic Sea port of Primorsk in November are set to reach 1.1
million metric tons, two traders said on Thursday.
    * That would be a 3.3% increase on a daily basis from 1.1
million
tons scheduled for October as the month is one day shorter.
    * EU and UK diesel and gasoil imports reached about 1.28
million
barrels per day in October, slightly above September levels,
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                                              
 diffs cif Med                                             
 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      Med                             Repsol  BP
 diffs cif Med     flat                                    
 per tonne         (Tangi                                  
  DL-CIFD-MED      er)                                     
                                                           
 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                      Nov                      
 tonne                            +$55                     
  JET-CD-NWE                                               
 
 Fuel Oil      Trades   Bids   Offers  Previous  Seller  Buyer
                                       Session           
 0.5% barge    $501-$5                                   
 fob ARA per   10                                        
 tonne                                                   
 3.5% barge    $456-$5                                   
 fob ARA per   02                                        
 tonne                                                   
  HFO-ARA                                                
 ICE Low Sulphur Gasoil   LGOc1           Previous
 Diesel ARA Barge        $16.16           $15.70
 Cracks vs Brent                          
 futures (per barrel)                     
 Diesel spread            LGOc1-LGOc2     
 
 (Reporting by Ahmad Ghaddar; Editing by Shreya Biswas and Susan
Fenton)
 ((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters
Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))