Europe Distillates-Diesel profit margins edge up as ARA stocks fall

China Aviation Oil (Singapore)

28/11/2024 17:36

LONDON, Nov 28 (Reuters) - Northwest European diesel
profit margins rose slightly to $17.93 per barrel, as ARA gasoil
inventories dropped on the back of firm demand up the river
Rhine.

    * In the Platts window for Mediterranean ULSD cargoes,
Trafigura
offered a 27,000 ton ULSD cargo, while Aramco Trading, BP and
Vitol sought cargoes. In the Mediterranean high-sulphur gasoil
cargo market, Petroineos offered a cargo, while Bayegan sought a
cargo. No trades were concluded in either market.
    * Scarce supply and improving demand have been offering
support to
distillates market, according to James Noel-Beswick of Sparta
Commodities.
    * ARA gasoil stocks, including diesel and heating oil, fell
by 5%
on the week to 2.26 million tons, according to consultancy
Insights Global.
    * Gasoil demand up the river Rhine remained high owing to
high
water levels that allow buyers to replenish stocks, said Lars
van Wageningen of Insights Global.
    * A single gasoil cargo arrived in ARA in the past week from
South
Korea, while gasoil cargoes departed for France, Ireland,
Norway, Poland, Sweden, U.K. and U.S.
    * Fuel oil stocks fell by 2% on the week to 1.19 million
tons,
marking the lowest in more than a year, Insights Global data
showed.
    * EU and UK diesel and gasoil imports are on track to fall
to 1.20
million barrels per day this month, down from 1.28 million bpd
in October, Kpler data showed.



                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 NWE                                          
 per tonne                                              
  GO-CND-NWE                                            
 0.1 GO Cargo           Dec +   COD                      
 diffs cif Med          $3      quotes                  
 per tonne                      - $3                    
  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 +   Dec +                   
 diffs cif              $9.50   $10.50                  
 NWE                                                    
 per tonne                                              
                                                    
 Diesel cargo           20-21   9-13                    
 diffs cif Med          Dec     Dec                     
 per tonne              quotes  quotes                  
  DL-CIFD-MED           +       + $5                    
                        $2.50                           
                                                         
 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 +   Dec +                    
 cargo                  $1      $32.50                  
 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        $17.93           $17.90
 Cracks vs Brent                           
 futures (per barrel)                     
 Diesel spread            LGOc1-LGOc2      
 
 (Reporting by Enes Tunagur)
 ((Enes.Tunagur@thomsonreuters.com;))