Europe Distillates-Diesel margins climb on more buying
LONDON, April 29 (Reuters) -Northwest European diesel barge margins rose by 81 cents to just under $17 a barrel on Monday, supported by rising activity, but rising imports limited further gains.
In the Northwest European diesel barge window, over 28,000 metric tons of barges traded on Monday, sharply higher than the previous session's 12,500 tons.
Shell and Unipec sold to BP, TotalEnergies, Vitol, Gunvor and Hartree.
European diesel margins are coming under pressure from high imports and lacklustre demand.
As much as 1.2 million barrels per day (bpd) of diesel and gasoil is due to arrive from east of Suez to the Atlantic Basin in April, according to Vortexa. That is up from 900,000 bpd in March.
"The rising flows are partly due to higher flows from Saudi Arabia and India, both historically large suppliers to Europe," said Jay Maroo, head of market intelligence and analysis at Vortexa.
The Slavyansk oil refinery in Russia's Krasnodar region has been forced to suspend some operations after being damaged in a Ukrainian drone attack, the state TASS news agency cited an executive overseeing the plant as saying on Saturday.
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 | ||||||
Diesel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Diesel barge diffs fob ARA per tonne ULSD10-BD-ARA | May -$1 (28.25KT) | May -$1 (12.5KT) | Shell, Unipec | Gunvor, BP, TotalEnergies, Vitol, Hartree | ||
Diesel cargo diffs cif NW E per tonne ULSD10-ANYD-NWE | June +$9 | |||||
Diesel cargo diffs cif Med per tonne DL-CIFD-MED | Med -$3 | |||||
Jet fuel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Jet fuel barge diffs fob FARAG per tonne JET-BD-ARA | FBH -$2.5 | FBH flat | ||||
Jet fuel cargo cif NEW per tonne JET-CD-NWE | CCM flat | CCM -$3 |
Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per tonne | $579-$582 (6 barges) | $590.50 (1 barge) | Glencore, TotalEnergies | OEI, Northstar, UnitedBunkering, BP | ||
3.5% barge fob ARA per tonne HFO-ARA | $484 (one barge) | $485 (1 barge) | Gunvor | United Bunkering |
ICE Low Sulphur Gasoil | LGOc1 | Previous |
Diesel ARA Barge Cracks vs Brent futures (per barrel) | $16.97 | $16.16 |
Diesel spread | LGOc1-LGOc2 |
Reporting by Ahmad Ghaddar; Editing by Shailesh Kuber
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