Europe Distillates-Diesel cracks fall on ample supply
LONDON, Aug 19 (Reuters) -Northwest European diesel barge refining cracks fell by about $1 to $15.50 a barrel on Monday, pressured by high imports and a weak economic outlook.
Ten 10ppm diesel barges traded in the Platts window, one more than the number traded in the previous session, as BP, Glencore and TotalEnergies sold to Trafigura, Litasco and Mabanaft.
UK and EU diesel and gasoil imports have reached 1.21 million barrels per day so far this month, Kpler data showed, up from 992,000 bpd in July.
Traders said the upcoming European fall maintenance season should help to balance the market.
Oil prices fell by about 2% on Monday, and global benchmark Brent held below $80 a barrel, as leading oil importer China's economic weakness looked set to curb demand.
Chinese data last week showed new home prices falling at the fastest pace in nine years. Meanwhile, Chinese refineries sharply cut crude processing rates last month in response to weak fuel demand.
Trades | Bids | Offers | Previous Session | Seller | Buyer | |
---|---|---|---|---|---|---|
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 diffs cif Med per tonne GO-CND-MED | ||||||
50ppm barge diffs fob ARA per tonne GO50PPM-ED-ARA | Sept -$3.25 | Sept -$1 | ||||
Diesel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Diesel barge diffs fob ARA per tonne ULSD10-BD-ARA | Sept -$3 - Sept -$2 (10 barges) | Sept -$3.5 - Sept -$3 (9 barges) | Glencore, BP, TotalEnergies | Trafigura, Litasco, Mabanaft | ||
Diesel cargo diffs cif NWE per tonne ULSD10-ANYD-NWE | Sept +$6.25 | |||||
Diesel cargo diffs cif Med per tonne DL-CIFD-MED | Sept +$2 | Sept +$4.5 | ||||
Jet fuel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Jet fuel barge diffs fob FARAG per tonne JET-BD-ARA | Sept +$37; FBH flat | E3ENG | Vitol | |||
Jet fuel cargo cif NWE per tonne JET-CD-NWE | Oct +$39 |
Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per tonne | $527-$528 (4 barges) | $529-$531 (7 barges) | BP, Glencore | OEI, UnitedBunkering | ||
3.5% barge fob ARA per tonne HFO-ARA | $464-$465.5 (5 barges) | $462-$463 (4 barges) | TotalEnergies | OEI, Peninsula |
ICE Low Sulphur Gasoil | LGOc1 | Previous |
Diesel ARA Barge Cracks vs Brent futures (per barrel) | $15.50 | $16.49 |
Diesel spread | LGOc1-LGOc2 |
Reporting by Ahmad Ghaddar; editing by Barbara Lewis
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