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Europe Distillates-Diesel margins dip in slow buying



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LONDON, June 24 (Reuters) -Northwest European diesel barge refining margins fell by 4% to about $19.60 a barrel on Monday as trading activity slowed.

  • A single barge traded in the afternoon window, with TotalEnergies buying from Shell. This compared with four barge trades in the previous session.

  • Global commodities trader Trafigura loaded diesel onto a supertanker in the Middle East this week, taking advantage of lower freight rates for crude tankers to send more fuel to the West, according to shipping data and several trade sources.

  • High rainfall was leading to a counter-seasonal rise in Rhine water levels which are disrupting barge activity, brokers Riverlake Barging said.

  • Meanwhile, diesel and gasoil arrivals in the UK and EU are expected to reach 911,000 barrels per day so far in June, Kpler data showed, down from 1.24 million bpd in May.

  • Amsterdam-Rotterdam-Antwerp gasoil stocks rose by 2.6% in the week to Thursday to 2.26 million metric tons, data from Dutch consultancy Insights Global showed.

  • Demand for gasoline and gasoil in inland markets up the river Rhine firmed on the week after high water levels had hampered navigation earlier in the month.

  • Mexican state energy company Pemex is unlikely to produce any commercially viable motor fuels at its new Olmeca refinery before the end of the year, five sources said, despite pressure that it should be ready before the outgoing president's term ends.




Trades

Bids

Offers

Previous Session

Seller

Buyer

0.1 GO Barge

diffs fob ARA per tonne GO-ED-ARA


July -$10





0.1 GO Cargo

diffs cif NEW per tonne GO-CND-NWE







0.1 GO Cargo

diffs cif Med per tonne GO-CND-MED



+$3.00




50ppm barge diffs fob ARA per tonne

GO50PPM-ED-ARA



July -$0.50











Diesel

Trades

Bids

Offers

Previous Session

Seller

Buyer

Diesel barge

diffs fob ARA

per tonne

ULSD10-BD-ARA

July $3 (one barge)



July $3

Shell

TotalEnergies

Diesel cargo

diffs cif NEW

per tonne

ULSD10-ANYD-NWE



July +$14




Diesel cargo

diffs cif Med

per tonne

DL-CIFD-MED














Jet fuel

Trades

Bids

Offers

Previous Session

Seller

Buyer

Jet fuel barge

diffs fob FARAG

per tonne

JET-BD-ARA

CCM -$7.50




E3ENG

BP

Jet fuel cargo

cif NEW per tonne

JET-CD-NWE



July +$59





Fuel Oil

Trades

Bids

Offers

Previous Session

Seller

Buyer

0.5% barge fob ARA per tonne

$559-$561




TotalEnergies, BP

NorthStar, OEI

3.5% barge

fob ARA per tonne HFO-ARA

$489-$490



$488-$489

TotalEnergies, Mercuria

Aramco

ICE Low Sulphur Gasoil

LGOc1

Previous

Diesel ARA Barge Cracks vs Brent futures (per barrel)

$19.56

$20.37

Diesel spread

LGOc1-LGOc2




Reporting by Ahmad Ghaddar
Editing by Christina Fincher

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