Europe Distillates-Diesel profit margins rise on US stockdraw
LONDON, Dec 18 (Reuters) -European diesel refining margins rose by 82 cents on Wednesday to about $19.63 per barrel, as U.S. distillate fuel stocks fell unexpectedly over the last week.
There were no diesel or gasoil offers in the Mediterranean market on Wednesday, a source said.
In the Northwest Europe fuel oil barge market, last trade for high-sulphur fuel oil occurred at around $444 a ton, while very-low sulphur fuel oil traded last at $488.50 a ton.
U.S. distillate inventories fell while gasoline inventories rose in the week ending December 13, the Energy Information Administration (EIA) said on Wednesday.
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell by 3.2 million barrels in the week to 118.2 million barrels, versus expectations for a 0.7 million-barrel rise, the EIA data showed.
Meanwhile, total U.S. demand for distillate fuel rose to about 4.5 million barrels per day (bpd) in the week ended December 13, the highest since March 2022, data from the EIA showed.
Major northeast Asian oil exporters have mostly finalised their 2025 sales for 10ppm sulphur diesel exports at lower levels from 2024, trade sources said, underscoring a bearish market outlook for a second straight year.
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 | ||||||
Diesel cargo diffs cif NWE per tonne ULSD10-ANYD-NWE | ||||||
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 | ||||||
Jet fuel cargo cif NWE per tonne JET-CD-NWE |
Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per tonne | $488.50 | $492 | ||||
3.5% barge fob ARA per tonne HFO-ARA | $444 | $436.75 |
ICE Low Sulphur Gasoil | LGOc1 | Previous |
Diesel ARA Barge Cracks vs Brent futures (per barrel) | $19.63 | $18.81 |
Diesel spread | LGOc1-LGOc2 |
Reporting by Robert Harvey; Editing by Mohammed Safi Shamsi
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