Europe Distillates-Diesel crack ends week lower on strong supplies
LONDON, Jan 6 (Reuters) - Northwest European diesel barge profit margins ended the week slightly lower at $41.4 a barrel following a large rise in regional stocks and continued strong imports.
Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area surged 6% to their highest since late October 2021 in the week to Thursday, data from Dutch consultancy Insights Global showed.
Gasoil stocks rose to 2.04 million tonnes amid rising imports into the region, particularly from Russia, Insight Global's Lars van Wageningen said.
Demand for gasoil from inland locations along the Rhine river rose on the week to the highest level since May 2020, Wageningen added.
U.S. distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell 1.4 million last week, compared with expectations for a 396,000-barrel drop, Energy Information Administration data showed on Thursday.
Diesel imports into Europe from Asia, the Middle East, Russia and the United States are so far set to reach 3.78 million tonnes in January, compared with a record 8.28 million tonnes in December, according to Refinitiv data.
Exports from Russia remain strong so far in January at 1.35 million tonnes, compared with December's 3.51 million tonnes, according to Refinitiv data.
Traders have been increasing imports into the region ahead of a European Union ban on Russian diesel imports from Feb. 5.
Germany's MiRo refinery C}RO7309414342, which is partly owned by Russia's Rosneft, on Thursday said one of its crude oil distillation facilities was down for repair work and was expected to remain out of service for around four weeks.
Trades | Bids | Offers | Previous Session | Seller | Buyer | |
|---|---|---|---|---|---|---|
0.1 GO Barge diffs fob ARA per tonne GO-ED-ARA | Jan -$23 | |||||
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 | ||||||
Diesel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Diesel barge diffs fob ARA Per tonne ULSD10-BD-ARA | Jan +$6 | Jan +$4 | Shell | BP | ||
Diesel cargo diffs cif NEW Per tonne ULSD10-ANYD-NWE | Jan +$21 (Brest) | Jan +$20 | Total | Trafigura | ||
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 | Jan +$72 | Unipec | Glencore | |||
Jet fuel cargo cif NEW per tonne JET-CD-NWE | Feb +$78 (Rotterdam) |
Fuel Oil | Trades | Bids | Offers | Previous Session | Sell | Buy |
0.5% barge fob ARA per tonne | $504 | $500-$502 | Vitol | BP, Peninsula, OEI | ||
3.5% barge fob ARA per tonne HFO-ARA | $344-$345 | $344.5-$349 | Gunvor, Totsa | Peninsula, Vitol, BP, Vitol, Mercuria |
ICE Low Sulphur Gasoil | LGOc1 | |
Diesel ARA Barge Crack(per barrel) | $ | $ |
Diesel spread | LGOc1-LGOc2 |
(Reporting by Ron Bousso; Editing by Devika Syamnath)
((Ron Bousso
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