Europe Distillates-Diesel margins steady, ARA stocks drop
LONDON, Nov 21 (Reuters) -Northwest European diesel profit margins were broadly flat at $19.21 a barrel on Thursday after data showed a decline in regional inventories.
Gasoil stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub declined by 2% in the week to Thursday, data from Dutch consultancy Insights Global showed.
Gasoil stocks, which include diesel and heating oil, declined to 2.37 million tons due to strong demand in inland markets up the Rhine river, Insight Global's Lars van Wageningen said.
Diesel margins were at their highest since August at the start of this week, LSEG data showed.
"Despite higher inventories at the ARA hub, the combination of strong winter demand and easing incoming flows is likely to sustain current market momentum," LSEG analyst Rakesh Varma said on Tuesday.
U.S. distillate stockpiles, which include diesel and heating oil, fell last week by 100,000 barrels in the week to 114.3 million barrels, versus expectations for a 20,000-barrel decline, EIA data showed.
Asia's jet fuel imports from India are set to hit multi-year highs in November ahead of peak winter demand after refinery outages and lower exports from China crimped supplies, according to industry sources and ship tracking data.
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 NEW per tonne GO-CND-NWE | ||||||
0.1 GO Cargo diffs cif Med per tonne GO-CND-MED | Dec +$1 | |||||
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 | ||||||
Diesel cargo diffs cif NWE per tonne ULSD10-ANYD-NWE | Dec +$12 | |||||
Diesel cargo diffs cif Med per tonne DL-CIFD-MED | Dec +$9.50 | Med +$0.75 | ||||
Jet fuel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Jet fuel barge diffs fob FARAG per tonne JET-BD-ARA | ||||||
Jet fuel cargo cif NWE per tonne JET-CD-NWE | CCM -$5 | CCM -$3 |
Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per tonne | $419-420 (3 barges) | |||||
3.5% barge fob ARA per tonne HFO-ARA | $493.25-494 (6 barges) |
ICE Low Sulphur Gasoil | LGOc1 | Previous |
Diesel ARA Barge Cracks vs Brent futures (per barrel) | $19.29 | $19.25 |
Diesel spread | LGOc1-LGOc2 |
Reporting by Ron Bousso; editing by David Evans
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