Europe Distillates-Diesel cracks fall on slow demand
LONDON, Sept 16 (Reuters) -Northwest European diesel barge profit margins fell by over 5% a barrel to $13.66 a barrel on Monday as slow buying and heavy supplies weighed.
Vitol sold three barges of 10ppm diesel to Exxon Mobil and Hartree in the Platts window, up from a single barge trade in the previous session.
EU and UK diesel and gasoil imports are projected to reach 1.34 million barrels per day (bpd) this month, Kpler data showed, compared with 1.27 million bpd in August.
Indian state retailers' diesel sales fell in the first half of September from the previous month, preliminary sales data showed on Monday, as monsoon rains hit industrial activity and mobility.
State retailers sold 2.4 million metric tons of diesel in the first half of September, down 4% from the same period in August and by 12.3% from a year earlier, the data showed. Diesel is mostly used by trucks and commercial vehicles.
Russia's primary oil refining capacity is expected to rise in the second half of September as refineries are wrapping up their maintenance, according to Reuters calculations based on data from industry sources.
Total offline capacity for the whole month is still seen remaining the same as calculated last week, at around 3.9 million tons, jumping 34% in September from August.
Trades | Bids | Offers | Previous Session | Seller | Buyer | |
|---|---|---|---|---|---|---|
0.1 GO Barge diffs fob ARA per tonne GO-ED-ARA | Oct -$23 | Oct -$21 | ||||
0.1 GO Cargo diffs cif NEW per tonne GO-CND-NWE | ||||||
0.1 GO Cargo diffs cif Med per tonne GO-CND-MED | Oct -$10 | |||||
50ppm barge diffs fob ARA per tonne GO50PPM-ED-ARA | Oct -$4 (one barge) | TotalEnergies | Mabanaft | |||
Diesel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Diesel barge diffs fob ARA per tonne ULSD10-BD-ARA | Oct -$2 (3 barges) | Oct -$2 (one barge) | Vitol | ExxonMobil, Hartree | ||
Diesel cargo diffs cif NWE per tonne ULSD10-ANYD-NWE | Oct +$8 | |||||
Diesel cargo diffs cif Med per tonne DL-CIFD-MED | Oct +$12.25 | |||||
Jet fuel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Jet fuel barge diffs fob FARAG per tonne JET-BD-ARA | FBH -$2.50 | |||||
Jet fuel cargo cif NEW per tonne JET-CD-NWE |
Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per tonne | $487-$490 (11 barges) | $486-$488 (7 barges) | BP, Mercuria, Glencore, TotalEnergies | OEI, Mercuria | ||
3.5% barge fob ARA per tonne HFO-ARA | $398-$402 (6 barges) | $392-$393.50 (4 barges) | Vitol, TotalEnergies | Shell, NorthStar |
ICE Low Sulphur Gasoil | LGOc1 | Previous |
Diesel ARA Barge Cracks vs Brent futures (per barrel) | $13.66 | $14.46 |
Diesel spread | LGOc1-LGOc2 |
Reporting by Ahmad Ghaddar
Editing by Ros Russell
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