Europe Distillates-Diesel refining margins end week on steady note
LONDON, June 28 (Reuters) -Northwest European diesel barge refining margins fell by over $1 a barrel on the day to $19.41 a barrel on Friday, but were on track to end the week virtually unchanged.
Five 10ppm diesel barges traded in the Platts window on Friday, down from six on Thursday. Shell and ExxonMobil sold barges to Glencore and BP.
Lower inventories and slowing imports have been supporting margins.
Independently-held gasoil inventories in Amsterdam-Rotterdam-Antwerp (ARA) STK-GO-ARA fell by nearly 3% in the week to June 27 to just under 2.2 million metric tons, according to data from Dutch consultancy Insights Global.
EU and UK diesel and gasoil imports are on track to reach 985,000 barrels per day (bpd) in June, Kpler data showed, down from 1.24 million bpd in May.
In the Mediterranean market, traders expect the diesel-making hydrocracker at Socar's STAR refinery in Turkey to come back online early next week. The outage on the unit started in early June.
The Atyrau oil refinery in western Kazakhstan was working normally after a fire that hit a hydrogen-producing unit was put out, the plant's press service said on Friday.
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 | July -$5 | |||||
Diesel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Diesel barge diffs fob ARA per tonne ULSD10-BD-ARA | July +0.75-$1.50 (5 barges) | July +$1.50-2.00 (6 barges) | Shell, ExxonMobil | Glencore, BP | ||
Diesel cargo diffs cif NWE per tonne ULSD10-ANYD-NWE | July +$8 | July +$12 | ||||
Diesel cargo diffs cif Med per tonne DL-CIFD-MED | Med -$1 (Malta) | Med +$2 | TotalEnergies | BP | ||
Jet fuel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Jet fuel barge diffs fob FARAG per tonne JET-BD-ARA | FBH -$3.50 | July +$54 | ||||
Jet fuel cargo cif NWE per tonne JET-CD-NWE | July +$53 |
Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per tonne | $560-$561 (3 barges) | $562-563 (3 barges) | TotalEnergies, BP | Trafigura | ||
3.5% barge fob ARA per tonne HFO-ARA | $488-$488.50 | $489-490 (6 barges) | TotalEnergies | Aramco |
ICE Low Sulphur Gasoil | LGOc1 | Previous |
Diesel ARA Barge Cracks vs Brent futures (per barrel) | $19.41 | $20.51 |
Diesel spread | LGOc1-LGOc2 |
Reporting by Ahmad Ghaddar
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.