Europe Distillates-Diesel margins hit over 4-month high
LONDON, Nov 18 (Reuters) -Northwest European diesel barge profit margins rose above $19 a barrel on Friday, their highest since early August, as cold weather was expected to boost regional demand.
Colder weather across northwest Europe was expected to increase demand fopr heating oil, traders said.
European diesel supplies were expected to tighten in December due to lower import levels and regional production, Sparta Commodities analyst Neil Crosby said.
Gasoil stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by over 18% in the week to Nov. 14 to their highest in six weeks, data from Dutch consultancy Insights Global showed.
Stocks stood at 2.42 million metric tons, rising as large cargoes from the Middle East discharged in the region, Insight Global's Lars van Wageningen said. He added that demand for heating oil from inland locations was robust.
EU and UK diesel and gasoil imports are on track to reach 1.08 million bpd this month, down from 1.26 million bpd in October, Kpler data showed.
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 +$4 | |||||
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 | Dec +$3 | |||||
Diesel cargo diffs cif NEW per tonne ULSD10-ANYD-NWE | Dec +$6 | |||||
Diesel cargo diffs cif Med per tonne DL-CIFD-MED | Dec +$13 | Dec $10 (Malta) | ||||
Jet fuel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Jet fuel barge diffs fob FARAG per tonne JET-BD-ARA | ||||||
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 | ||||||
3.5% barge fob ARA per tonne HFO-ARA |
ICE Low Sulphur Gasoil | LGOc1 | Previous |
Diesel ARA Barge Cracks vs Brent futures (per barrel) | $19.27 | $18.21 |
Diesel spread | LGOc1-LGOc2 |
Reporting by Ron Bousso
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