Europe Distillates-Diesel margins steady as US stocks fall

China Aviation Oil (Singapore)

20/11/2024 17:36

LONDON, Nov 20 (Reuters) - Northwest European diesel
profit margins were little changed on Wednesday, falling 6 cents
to $18.77 a barrel, while in the U.S., diesel stocks fell by
more than analysts' expectations.
    * Diesel margins were at their highest since August at the
start
of this week, LSEG data show.
    * "Despite higher inventories at the ARA hub, the
combination of
strong winter demand and easing incoming flows is likely to
sustain current market momentum," LSEG analyst Rakesh Varma said
on Tuesday.
    * U.S. crude oil and gasoline inventories last week rose
more than
forecast, while distillate stockpiles posted a
larger-than-expected draw, the Energy Information Administration
said on Wednesday.
    * Distillate stockpiles  USOILD=ECI , which include diesel
and
heating oil, fell by 100,000 barrels in the week to 114.3
million barrels, versus expectations for a 20,000-barrel
decline.
    * Asia's jet fuel imports from India are set to hit
multi-year
highs in November ahead of peak winter demand after refinery
outages and lower exports from China crimped supplies, according
to industry sources and ship tracking data.
    * Nigerian state-owned oil firm NNPC Ltd has issued a tender
to
export a fuel oil cargo from its mothballed Port Harcourt oil
refinery, the latest step towards resuming operations at the
plant, an official said on Wednesday.

                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                 +$1                     
 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                            
 diffs cif              +$12                           
 NWE                                                   
 per tonne                                             
                                                   
 Diesel cargo           Dec            Med             
 diffs cif Med          +$9.5          +$0.75          
 per tonne              0                              
  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               CCM    CCM                      
 cargo                  -$5    -$3                     
 cif NWE per                                           
 tonne                                                 
  JET-CD-NWE                                           
     
 Fuel Oil      Trades   Bids   Offers  Previous  Seller  Buyer
                                       Session           
 0.5% barge     $419-4                           Orim,   Peninsu
 fob ARA per   20 (3                             Gunvor  la 
 tonne         barges)                                   
 3.5% barge    $493.25                            Mercu  United,
 fob ARA per   -494 (6                           ria,    Total,
 tonne         barges)                           BP      Orim,
  HFO-ARA                                                Mercuri
                                                         a 
 ICE Low Sulphur          LGOc1           Previous
 Gasoil                                   
 Diesel ARA Barge        $18.77           $18.83
 Cracks vs Brent                           
 futures (per barrel)                     
 Diesel spread            LGOc1-LGOc2      
 
 (Reporting by Robert Harvey; Editing by Tasim Zahid)
 ((Robert.Harvey@thomsonreuters.com; +447552256587;))