Europe Distillates-Diesel margins rise to 19-week high

China Aviation Oil (Singapore)

19/11/2024 17:34

LONDON, Nov 19 (Reuters) - Northwest European diesel
barge profit margins rose to about $19.72 a barrel on Tuesday,
their highest since July 7, supported by cold weather and lower
imports. 
    * Colder weather across northwest Europe was expected to
increase
demand for heating oil, traders said.
    * European diesel supplies were expected to tighten in
December
due to lower import levels and regional production, Sparta
Commodities analyst Neil Crosby said.
    * EU and UK diesel and gasoil imports are on track to reach
1.08
million bpd this month, down from 1.26 million bpd in October,
Kpler data showed.
    * Refinery maintenance in the Middle East and high Asian
prices
were curbing arbitrage opportunities to Europe, traders said. 

                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 NEW                                         
 per tonne                                             
  GO-CND-NWE                                           
 0.1 GO Cargo                  Dec                      
 diffs cif Med                 flat                    
 per tonne                     (Algec                  
  GO-CND-MED                   iras)                   
 50ppm barge                                            
 diffs fob ARA                                         
 per tonne                                             
                                                    
                                                        
 Diesel         Trades  Bids   Offers  Previo  Seller  Buyer
                                       us              
                                       Sessio          
                                       n               
 Diesel barge                          Dec              
 diffs fob ARA                         +$3             
 per tonne                                             
                                                     
 Diesel cargo           Dec                             
 diffs cif              +$13                           
 NEW                    (Bord                          
 per tonne              eaux)                          
                    +$8.5                          
                        0                              
                        (Tham                          
                        es);                           
                        Dec                            
                        +$9.5                          
                        0                              
                        (Hamb                          
                        urg)                           
 Diesel cargo   Med     Dec    Dec             Vitol   BP
 diffs cif Med  +$0.75  +$16.  +$16                    
 per tonne              50     (Tangi                  
  DL-CIFD-MED           (Kope  er)                     
                        r)                             
                                                        
 Jet fuel       Trades  Bids   Offers  Previo  Seller  Buyer
                                       us              
                                       Sessio          
                                       n               
 Jet fuel                              Dec              
 barge                                 +$30            
 diffs fob                                             
 FARAG                                                 
 per tonne                                             
  JET-BD-ARA                                           
 Jet fuel                      Dec                      
 cargo                         +$42                    
 cif NWE per                                           
 tonne                                                 
  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          LGOc1           Previous
 Gasoil                                   
 Diesel ARA Barge        $19.72           $19.27
 Cracks vs Brent                           
 futures (per barrel)                     
 Diesel spread            LGOc1-LGOc2      
 
 (Reporting by Ahmad Ghaddar; Editing by Emelia
Sithole-Matarise)
 ((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters
Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))