Europe Distillates-Diesel profit margins edge higher

China Aviation Oil (Singapore)

29/10/2024 17:07

LONDON, Oct 29 (Reuters) - Northwest European diesel
barge profit margins rose slightly to $15.27 a barrel on
Tuesday, but rising imports limited further gains.
    * Global diesel imports into Europe this month are expected
to
reach a 22-month high of 7.77 million metric tons, LSEG analyst
Rakesh Varma said, adding that while imports from the United
States rose, Middle East and Asia arrivals remained steady.
    * "Europe is set to enter its peak winter heating demand
season
while it is receiving 72% more diesel in October than last
year," Varma said. 
    * "Refineries returning from turnarounds may face challenges
in
maintaining run rates as the region is already well-supplied."
    * Sparta Commodities analyst James Noel-Beswick said that a
global
bullish sentiment in the distillates market, particularly in jet
fuel, is expected to last in the short-term. 
    * "Yet, ICE gasoil spreads and northwest European premia
remain
weak, though December/January spreads have improved in recent
days, hinting at more positivity to come as we move towards late
November," he added.


                   Trades  Bids   Offers  Previou  Seller  Buyer
                                          s                
                                          Session          
 0.1 GO Barge                                              
 diffs fob ARA                                             
 per tonne                                                 
  GO-ED-ARA                                                
 0.1 GO Cargo              Dec                             
 diffs cif NWE             +$1                             
 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                    +$6.75                   
 per tonne                                                 
                                                          
 Diesel cargo              Nov            Med +$2          
 diffs cif Med             +$7                             
 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                                            
 cif NWE per                      Nov                      
 tonne                            +$61                     
  JET-CD-NWE                                               
 
 Fuel Oil      Trades   Bids   Offers  Previous  Seller  Buyer
                                       Session           
 0.5% barge                            $487-$49          
 fob ARA per                           0                 
 tonne                                                   
 3.5% barge                            $464-$48          
 fob ARA per                           5                 
 tonne                                                   
  HFO-ARA                                                
 ICE Low Sulphur Gasoil   LGOc1           Previous
 Diesel ARA Barge        $15.27           $14.84
 Cracks vs Brent                          
 futures (per barrel)                     
 Diesel spread            LGOc1-LGOc2     
 
 (Reporting by Ahmad Ghaddar; Editing by Shinjini Ganguli)
 ((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters
Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))