Europe Distillates-Diesel profit margins edge higher
Europe Distillates-Diesel profit margins edge higher LONDON, Oct 30 (Reuters) - Northwest European diesel refining margins rose by 1.7% on Friday as Ukrainian attacks on Russian refineries resumed.
Low-sulphur gasoil futures LGOc1 traded at a $70.70 per barrel premium to Brent crude futures LCOc1 by 1636 GMT, $1.15 higher than the previous close.
Ukraine resumed strikes on Russian oil refineries with an overnight attack on facilities in Samara region, Russia's Deputy Prime Minister Alexander Novak said on Friday.
Moscow plans to export 2.15 million metric tons of diesel in November, Novak said, as cited by Russian media.
TotalEnergies TTEF.PA will cut diesel prices to €2.15 ($2.40) a litre in around 700 gas stations across France on Saturday, it said, about 9% lower than the current national average, as it continues to undercut competitors at a time of near-record fuel prices.
Gasoil and diesel stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub were down 3% at 1.72 million tons, data from Dutch consultancy Insights Global showed on Thursday.
Jet fuel stocks independently in the ARA hub fell to their lowest since 2014 on the week, the data showed.
US oil majors ExxonMobil XOM.N and Chevron CVX.N both beat analyst expectations for quarterly profit on Friday, as soaring refining margins increased earnings from their fuel-making businesses — which typically have smaller profits — to rival the upstream segments.
Valero Energy VLO.N said on Friday it agreed to acquire the idled Houston refinery site owned by a subsidiary of LyondellBasell Industries LYB.N for $320.5 million.
| Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.1 GO Barge diffs fob ARA per ton |
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0.1 GO Cargo diffs cif NWE per ton |
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0.1 GO Cargo diffs cif Med per ton |
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50ppm barge diffs fob ARA per ton
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Diesel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Diesel barge diffs fob ARA per ton |
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Diesel cargo diffs cif NWE per ton |
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Diesel cargo diffs cif Med per ton |
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| Nov +$12 |
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Jet fuel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Jet fuel barge diffs fob FARAG per ton
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Jet fuel cargo cif NWE per ton
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Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per ton |
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| $713 |
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3.5% barge fob ARA per ton |
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| $642 |
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ICE Low Sulphur Gasoil | LGOc1 | Previous Close |
ICE Low Sulphur Gasoil futures vs Brent futures (per barrel) | $70.70 | $69.55 |
Diesel spread |
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(Reporting by Ahmad Ghaddar; Editing by Jonathan Ananda)
((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net/))