off-the-wire

Europe Distillates-Diesel cracks rise on supply concerns

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Jan 31 (Reuters) - Northwest European diesel barge profit margins rose above $40 a barrel on Tuesday as strikes in France and the onset of an EU ban on Russian imports next week raised supply concerns.


* Electricity output dropped in France on Tuesday and petrol product deliveries from TotalEnergies' sites stopped as workers walked off their jobs in protest at planned pension reforms.


* 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. 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 -$19
diffs fob
ARA per
tonne
<GO50PPM-ED
-ARA>



Diesel Trades Bids Offers Previous Seller Buyer Session
Diesel Feb Feb flat Shell Gunvor barge flat - - Feb
diffs fob Feb +$1
ARA +$0.50
Per tonne
<ULSD10-BD-
ARA>
Diesel Feb Feb
cargo +$5 +$17
diffs cif (Hamb
NEW urg)
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 +$30
barge
diffs fob
FARAG
per tonne
<JET-BD-ARA
>
Jet fuel Feb Mar
cargo +$93 +$111
cif NEW per
tonne
<JET-CD-NWE
>
Fuel Oil Trades Bids Offers Previous Sell Buy Session
0.5% barge $588-$59 $591 Vitol Mercur fob ARA per 2 ia tonne
3.5% barge $385-$39
fob ARA per 0
tonne ICE Low Sulphur Gasoil Previous Diesel ARA Barge $37.3 $40.2 Crack(per barrel)
Diesel spread (Reporting by Ron Bousso; editing by Barbara Lewis)

email: ron.bousso@thomsonreuters.com Twitter: Tel.: +44 (0)207 542 2161 Reuters Messaging: ron.bousso.reuters.com@reuters.net))
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