off-the-wire

Europe Distillates-Diesel cracks slip on rising imports

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Jan 30 (Reuters) - Northwest European diesel barge profit margins fell to around $37 a barrel on Monday, buoyed by rising imports into the region, ahead of an EU ban on Russian imports.


* Russia has ramped up diesel supplies to African and Mediterranean ports in January as an EU embargo approaches, with traders short of time to find new selling outlets, data from market sources and Refinitiv showed.
* A proposed EU price cap on Russian diesel may be high enough to allow Moscow to continue exporting the fuel, but in practice could deter big Asian buyers who have become used to buying cheap Russian crude to refine it themselves, analysts say.
* U.S. oil refiners are expected to have about 1,639,000 barrels per day (bpd) of capacity offline for the week ending Feb. 3, increasing available refining capacity by 67,000 bpd, research company IIR Energy said on Monday.
* Venezuela's state oil company PDVSA on Friday restarted the fluid catalytic cracker (FCC) of its 645,000-barrel-per-day (bpd) Amuay refinery, the country's largest, following an outage that halted operations for eight weeks, three sources from the facility said. Trades Bids Offers Previous Seller Buyer Session
0.1 GO
Barge
diffs fob
ARA per
tonne 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 Feb Belgomi Vitol diffs fob -$19 ne
ARA per
tonne
<GO50PPM-ED
-ARA>



Diesel Trades Bids Offers Previous Seller Buyer Session
Diesel Feb Feb Shell, Gunvor barge flat - +$1.50 Belgomi , diffs fob Feb ne, Mabana ARA +$1 Glencor ft Per tonne e
<ULSD10-BD-
ARA>
Diesel Feb Feb
cargo +$6 +$17
diffs cif
NWE
Per tonne
<ULSD10-ANY
D-NWE>
Diesel
cargo
diffs cif
Med
per tonne
<DL-CIFD-ME
D>



Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel CCM Totsa Vitol barge +$30
diffs fob
FARAG
per tonne
<JET-BD-ARA
>
Jet fuel Feb
cargo +$93
cif NEW per
tonne
<JET-CD-NWE
>
Fuel Oil Trades Bids Offers Previous Sell Buy Session
0.5% barge $591 $588-$59 Vitol Shell fob ARA per 5
tonne
3.5% barge $385-$39 $384-$38 Vitol, Mercur fob ARA per 0 8.75 Gunvor ia, tonne Aramco ICE Low Sulphur Gasoil Previous Diesel ARA Barge $37.3 $40.2 Crack(per barrel)
Diesel spread (Reporting by Ahmad Ghaddar; Editing by Maju Samuel)

Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))
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