Europe Distillates-Diesel profit margins slide
Europe Distillates-Diesel profit margins slide LONDON, Nov 4 (Reuters) - Northwest European diesel refining margins dropped more than 4% on Wednesday as oil prices fell, with investors betting that US midterm election losses for President Donald Trump's Republican Party could open the door to a winding down of the US-Israeli war on Iran.
Low-sulphur gasoil futures LGOc1 traded at a premium of $68.87 a barrel to Brent crude futures LCOc1 by 1752 GMT, nearly $3 lower than the previous close
US distillate inventories USOILD=ECI, which include diesel and heating oil, fell by 3.6 million barrels last week to 99.3 million barrels, versus expectations in a Reuters poll for a drop of 100,000 barrels, the Energy Information Administration said
Distillate stocks are now at their lowest since 2003
Refinery crude runs USOICR=ECI rose by 199,000 barrels per day last week, the EIA said, while utilisation rates USOIRU=ECI rose by 1.7 percentage points to 94.5%
The US Energy Department said on Wednesday that it would loan 300,000 barrels of fuel oil to four companies from the nation's emergency heating oil reserve in an effort to counter surging prices before winter
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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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| Nov +$17 |
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Diesel cargo diffs cif Med per ton |
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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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| CCM +$49 | CCM +$35 |
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Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per ton |
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3.5% barge fob ARA per ton |
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ICE Low Sulphur Gasoil | LGOc1 | Previous Close |
ICE Low Sulphur Gasoil futures vs Brent futures (per barrel) | $ | $ |
Diesel spread |
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(Reporting by Ahmad Ghaddar
Editing by David Goodman
)
((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net/))