Europe Distillates-Diesel cracks edge higher after US stocks draw
LONDON, Sept 5 (Reuters) -Northwest European diesel barge refining cracks edged higher above $16 a barrel on Thursday following a surprise draw in U.S. inventories last week.
Fourteen barges of 10ppm diesel traded in the Platts window. TotalEnergies and Vitol sold to BP, Glencore and Gunvor.
Gasoil stocks independently held in the ARA storage hub rose in the week to Thursday by 1.4% to 2.45 million tons to their highest since May last year on rising imports, data from Dutch consultancy Insights Global showed. ARA/
U.S. distillate stockpiles, which include diesel and heating oil, fell last week by 0.4 million barrels to 122.7 million barrels, versus expectations for a 0.5-million-barrel rise, EIA data showed.
The outlook for the diesel market was bearish despite the upcoming seasonal refinery maintenance due to ongoing weakness in the Singapore area, Sparta Commodities analyst James Noel-Beswicksaid.
"It is increasingly clear that, despite the aforementioned global turnarounds, additional (refinery) run cuts will be necessary to address the oversupply," he said.
EU and UK diesel and gasoil imports reached 1.23 million barrels per day in August, Kpler data showed, up from about 1 million bpd in July.
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 | ||||||
50ppm barge diffs fob ARA per tonne GO50PPM-ED-ARA | Sept -$7 | |||||
Diesel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Diesel barge diffs fob ARA per tonne ULSD10-BD-ARA | Sept -$1-$3.50 | Sept -$2-$2.50 | Vitol, Total | BP, Gunvor, Glencore | ||
Diesel cargo diffs cif NEW per tonne ULSD10-ANYD-NWE | Sept +$9.50 (Le Havre) | Sept $9 | Gunvor | Valent | ||
Diesel cargo diffs cif Med per tonne DL-CIFD-MED | Oct +$13 (Koper) | Oct $14.50 | Oct $16 | Total | BP | |
Jet fuel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Jet fuel barge diffs fob FARAG per tonne JET-BD-ARA | Sept +$44.50 | |||||
Jet fuel cargo cif NEW per tonne JET-CD-NWE |
Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per tonne | $513-$520 | $519-$523 | BP, Trafigura, Shell | Total, United | ||
3.5% barge fob ARA per tonne HFO-ARA | $391-$394 | $397-$401 | Vitol, Total | BP, Shell, OEI |
ICE Low Sulphur Gasoil | LGOc1 | Previous |
Diesel ARA Barge Cracks vs Brent futures (per barrel) | $16.06 | $15.71 |
Diesel spread | LGOc1-LGOc2 |
Reporting by Ron Bousso; Editing by Shreya Biswas
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