Europe Distillates-Diesel refining margins steady after large US stocks build
LONDON, July 10 (Reuters) -Northwest European diesel barge refining margins were little changed on Wednesday at $19.30 a barrel after data showed a large build in U.S. inventories last week.
Seven diesel barges traded in the Platts window, up from six in the previous session. Mercuria sold to TotalEnergies and Glencore.
U.S. distillate stockpiles, which include diesel and heating oil, rose last week by 4.9 million barrels to 124.6 million barrels, versus expectations for a 0.8 million-barrel rise, the EIA data showed.
"There's a real warning flag over the distillate number," said John Kilduff, partner at Again Capital.
EU and UK diesel and gasoil imports stood at about 1.01 million barrels per day in June, nearly 20% below May levels, Kpler data showed. July import levels are set to reach 905,000 bpd so far.
Trades | Bids | Offers | Previous Session | Seller | Buyer | |
---|---|---|---|---|---|---|
0.1 GO Barge diffs fob ARA per tonne GO-ED-ARA | July -$21 | |||||
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 -$5 (one barge) | |||||
Diesel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Diesel barge diffs fob ARA per tonne ULSD10-BD-ARA | July -$1-$1.50 | July -$0.25 and July -$0.50 (6 barges) | Mercuria | Total, Glencore | ||
Diesel cargo diffs cif NWE per tonne ULSD10-ANYD-NWE | July +$13.50 | |||||
Diesel cargo diffs cif Med per tonne DL-CIFD-MED | 1 cargo | OMV | BP | |||
Jet fuel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Jet fuel barge diffs fob FARAG per tonne JET-BD-ARA | 2 barges | July +$53 | FBH -$0.50 | Total, E3ENG | Shell | |
Jet fuel cargo cif NEW per tonne JET-CD-NWE | 1 cargo | Unipec | BP |
Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per tonne | $563-$564 | $562-$564 (7 barges) | Glencore | BP | ||
3.5% barge fob ARA per tonne HFO-ARA | $495-$498 | $501-$508.5 (16 barges) | Gunvor, Mercuria | Peninsula, OEI, Mercuria, BP |
ICE Low Sulphur Gasoil | LGOc1 | Previous |
Diesel ARA Barge Cracks vs Brent futures (per barrel) | $19.30 | $19.18 |
Diesel spread | LGOc1-LGOc2 |
Reporting by Ron Bousso; Editing by Shilpi Majumdar
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