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Europe Distillates-Cracks end week at three-month high after refinery outage

reuters.com · 06/10/2022 11:52
Europe Distillates-Cracks end week at three-month high after refinery outage

- Northwest European diesel barge profit margins ended the week at above $60 a barrel, the highest since March, following an refinery outage in Austria and a decline in regional stocks.

  • Austrian oil and gas group OMV is implementing measures to make up for shortfalls at its Schwechat refinery after a mechanical incident damaged a crude oil distillation unit last week, it said.nL8N2XX2R0

  • Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area fell 2.5% in the week to Thursday, data from Dutch consultancy Insights Global showed.ARA/

  • Gasoil stocks fell as demand up the Rhine river was stable and imports to the region were limited despite a few cargoes coming from Russia, said Insights Global's Lars van Wageningen.

  • U.S. Distillate stockpiles USOILD=ECI, which include diesel and heating oil, rose by 2.6 million barrels in the week to 109 million barrels, more than double the forecasts for a 1.1 million-barrel rise, the EIA data showed. nL1N2XV1H9

  • Deliveries of low-sulphur gasoil LGOc1 for June fell to 370 lots, or 37,000 tonnes, touching its lowest since June 2021, InterContinental Exchange (ICE) data showed.

  • The Intercontinental Exchange ICE will amend terms of its low sulphur gasoil contract to exclude product of Russian origin or exported from the country from gasoil deliveries with effect from January 2023, ICE Futures Europe said.




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


Jul $51 (Bilbao)





0.1 GO Cargo

diffs cif Med per tonne GO-CND-MED



Jul $24





50ppm barge diffs fob ARA per tonne

GO50PPM-ED-ARA



Jul +$28











Diesel

Trades

Bids

Offers

Previous Session

Seller

Buyer

Diesel barge

diffs fob ARA

Per tonne

ULSD10-BD-ARA



Jul +$62




Diesel cargo

diffs cif NWE

Per tonne

ULSD10-ANYD-NWE


Jul +$69, + $90 (Amsterdam)

Jul +$81, +$110 (Milford Haven)




Diesel cargo

diffs cif Med

per tonne

DL-CIFD-MED


Jul $78 (Mersin)












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



Jun +$62




Fuel Oil

Trades

Bids

Offers

Previous Session

Sell

Buy

0.5% barge fob ARA per tonne

$898-$903



$918-$925



3.5% barge

fob ARA per tonne HFO-ARA

$610






ICE Low Sulphur Gasoil

LGOc1


Diesel ARA Barge Crack(per barrel)



Diesel spread

LGOc1-LGOc2



(Reporting by Ron Bousso; editing by Louise Heavens)

((Ron Bousso

email: ron.bousso@thomsonreuters.com

Twitter: https://twitter.com/ronbousso1

Tel.: +44 (0)207 542 2161

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