Europe Distillates-Diesel refining hold above $20/bbl
LONDON, July 4 (Reuters) -Northwest European diesel barge refining margins were broadly steady at about $20.25 a barrel on Thursday, as buying activity improved and regional stocks moved sideways.
Nine diesel barges traded in the Platts window, up from four on Wednesday. ExxonMobil and Shell sold to Glencore, Unipec and Mabanaft.
Independently held gasoil stocks in storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub were largely steady in the week to Thursday at 2.18 million metric tons, data from Dutch consultancy Insights Global showed.
"Various measures of gasoil strength in Europe have gained further ground over the past few weeks," said Sparta Commodities analyst Neil Crosby.
"Some refinery disruptions in Europe and French strikes are also underpinning the more bullish trend," he added.
U.S. distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell by 1.5 million barrels in the week to June 28 to 119.7 million barrels, versus expectations for a 1.2 million-barrel drop, the EIA data showed.
A coker at LyondellBasell Industries' LYB.N 263,776 barrel-per-day Houston refinery was operating at a reduced production level following a fire on Tuesday, said people familiar with plant operations.
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 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 | July -$9 | July -$6 | Jul -$8 | |||
Diesel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Diesel barge diffs fob ARA per tonne ULSD10-BD-ARA | July -$0.50-$1 (9 barges) | July -$1.25 (4 barges) | Exxon Mobil, Shell | Glencore, Mabanaft, Unipec | ||
Diesel cargo diffs cif NWE per tonne ULSD10-ANYD-NWE | July +$11.50 | |||||
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 | August +$49 | KLM | Shell | |||
Jet fuel cargo cif NEW per tonne JET-CD-NWE | CCM -$2 | July + $54 |
Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per tonne | $578-$580 (12 barges) | $577-578 (5 barges) | Mercuria, BP, Glencore | TotalEnergies, Petroineos, Trafigura, United Bunkering. | ||
3.5% barge fob ARA per tonne HFO-ARA | $508-$515 (8 barges) | $509-519 (11 barges) | Gunvor, BP |
ICE Low Sulphur Gasoil | LGOc1 | Previous |
Diesel ARA Barge Cracks vs Brent futures (per barrel) | $20.23 | $20.46 |
Diesel spread | LGOc1-LGOc2 |
Reporting by Ahmad Ghaddar; Editing by Susan Fenton
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