Europe Distillates-Diesel cracks drop to 16-month low
LONDON, Aug 27 (Reuters) -Northwest European diesel barge refining cracks dropped by over $1 to $14.80 a barrel on Tuesday, their lowest since May 2023, amid weak buying activity in the region and ample supplies.
Ten barges of 10ppm diesel traded in the Platts window. Belgomine, Litasco, TotalEnergies and BP sold to Vitol, Trafigura and Glencore.
A significant supply overhang in diesel and jet fuel supplies is weighing on prices, Sparta Commodities analyst James Noel-Beswick said. Stocks are however expected to clear as refineries enter seasonal maintenance in September and October, he added.
ARA gasoil stocks rose by around 3.2% on the week to 2.35 million tons, Insights Global 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 | ||||||
50ppm barge diffs fob ARA per tonne GO50PPM-ED-ARA | Sept -$2 | Sep -$1 | Total | Vitol | ||
Diesel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Diesel barge diffs fob ARA per tonne ULSD10-BD-ARA | Sept -$3.50-$4 | Sep -$1.75 (2KT) | Belgomine, Litasco, TOtal, BP | Vitol, Trafigura, Glencore | ||
Diesel cargo diffs cif NEW per tonne ULSD10-ANYD-NWE | Sept $6 (Hamburg) | Sep +$6 | BP | Vitol | ||
Diesel cargo diffs cif Med per tonne DL-CIFD-MED | Sep +$6.5 | Sep +$7.50 | ||||
Jet fuel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Jet fuel barge diffs fob FARAG per tonne JET-BD-ARA | FBH flat | FBH flat | ||||
Jet fuel cargo cif NEW per tonne JET-CD-NWE | 3 cargoes | Sep +$45 | Vitol, Unipec | BP |
Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per tonne | $549-$550 | $537 | Total, OEI, BP | Northstar, Shell, United | ||
3.5% barge fob ARA per tonne HFO-ARA | $445-$448.50 | $429-$431 (3 barges) | Total, Mercuria, Aramco | OEI, United, Total, Trafiogura, Peninsula |
ICE Low Sulphur Gasoil | LGOc1 | Previous |
Diesel ARA Barge Cracks vs Brent futures (per barrel) | $14.83 | $16.01 |
Diesel spread | LGOc1-LGOc2 |
Reporting by Ron Bousso; Editing by Tomasz Janowski
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