Europe Distillates-Cracks slip further, regional stocks ease

North Atlantic Energies SA

09/03/2023 17:27

LONDON, March 9 (Reuters) - Northwest European diesel barge profits
edged lower to around $24.30 a barrel on Thursday, amid higher oil prices, while
regional stocks dipped for a second consecutive week and industrial action in
France continued to hamper fuel deliveries. 
    * Gasoil stocks held in independent storage in the
Amsterdam-Rotterdam-Antwerp
(ARA) refining and storage area slipped for a second week in a row, data from
Dutch consultancy Insights Global showed on Thursday.
    * Gasoil stocks fell 2.6% to 2.49 million tonnes, even as demand from inland
locations slowed on the week and imports into the region remained strong,
Insights Global's Lars van Wageningen said.
    * Workers striking over proposed changes to France's pension system
continued to
block fuel deliveries and reduce electricity production at several sites on
Thursday.
    * TotalEnergies  TTEF.PA  said there were again no fuel deliveries from its
French
refineries due to the strike.
    * There were also no deliveries from ExxonMobil  XOM.N  unit Esso's
Fos-sur-Mer
refinery in southern France, although operations had returned to normal at Port
Jerome in the northwest, a union representative told Reuters.
    * Disruptions to ship traffic on the Rhine have ended, a spokesperson of the
Gambsheim lock in France's Alsace region said on Thursday, after protesting EDF
workers on Wednesday had blocked some locks along one of Europe's busiest
waterways.

              Trades  Bids     Offers  Previous  Seller   Buyer
                                       Session            
 0.1 GO                                                   
 Barge                                                    
 diffs fob                                                
 ARA per                                                  
 tonne                                                    
  GO-ED-ARA                                               
 0.1 GO                                                   
 Cargo                                                    
 diffs cif                                                
 NWE per                                                  
 tonne                                                    
                                                         
 0.1 GO                                                   
 Cargo                                                    
 diffs cif                                                
 Med per                                                  
 tonne                                                    
                                                         
 50ppm barge          April                               
 diffs fob            -$5                                 
 ARA per                                                  
 tonne                                                    
                                                     
                                                          
 Diesel       Trades  Bids     Offers  Previous  Seller   Buyer
                                       Session            
 Diesel       March                    March     Gunvor,  Totsa,
 barge        -$1                      -$1 to    Glencor  Vitol
 diffs fob    and                      flat      e        
 ARA          March                                       
 Per tonne    -$0.50                                      
                                                      
 Diesel               April            April              
 cargo                +$1              +$17.50            
 diffs cif                                                
 NWE                                                      
 Per tonne                                                
                                                    
 Diesel               April                               
 cargo                +$8                                 
 diffs cif                                                
 Med                                                      
 per tonne                                                
                                                        
                                                          
 Jet fuel     Trades  Bids     Offers  Previous  Seller   Buyer
                                       Session            
 Jet fuel                                                 
 barge                                                    
 diffs fob                                                
 FARAG                                                    
 per tonne                                                
                                                         
 Jet fuel     April                    April     Glencor  Vitol,
 cargo        +$35,                    +$39,     e,       BP
 cif NWE per  Cif                      TQC       Totsa    
 tonne        NWE                      flat,              
                                                         
 -0.25
 Fuel Oil     Trades     Bids    Offers  Previous  Sell    Buy
                                         Session           
 0.5% barge                              $545-$55          
 fob ARA per                             2                 
 tonne                                                     
 3.5% barge   $404-$405                  $401-$40  Vitol   OEI,
 fob ARA per                             3                 Penin
 tonne                                                     sula,
  HFO-ARA                                                  BP
 ICE Low Sulphur Gasoil   LGOc1          Previous
 Diesel ARA Barge        $24.3           $26.8
 Crack(per barrel)                       
 Diesel spread            LGOc1-LGOc2    
 
 (Reporting by Ahmad Ghaddar; editing by Uttaresh Venkateshwaran)
 ((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging:
ahmad.ghaddar.thomsonreuters.com@reuters.net))