off-the-wire

Europe Distillates-Diesel cracks slump as ARA stocks rise

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Feb 2 (Reuters) - Northwest European diesel barge profit margins dropped sharply to $33.8 a barrel on Thursday, pressured by a sharp rise in regional stocks.


* Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area rose by 6% to their highest since July 2021, data from Dutch consultancy Insights Global showed on Thursday.
* Gasoil stocks reached 2.3 million tonnes, rising as importers in the region increase Russian purchases ahead of a Feb. 5 EU ban on Russian oil product imports, said Insights Global's Lars van Wageningen.
* Demand for gasoil and diesel up the Rhine river fell to its lowest since October 2022 on a weekly basis, Wageningen said, with tanks in inland locations filling up amid increased imports in recent weeks.
* U.S. distillate stockpiles, which include diesel and heating oil, rose last week by 2.3 million barrels in the week to 117.6 million barrels, compared with expectations for a 1.3 million-barrel drop, EIA data showed.
* European diesel imports are expected to total 8.36 million tonnes in January, slightly lower than December's 8.38 million tonnes, according to Refinitiv ship tracking data.
* European diesel imports from Russia rose to nearly 4 million tonnes as traders rushed to fill tanks ahead of a Feb. 5 EU ban on Russian fuel, according to Refinitiv. 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
diffs fob
ARA per
tonne
<GO50PPM-ED
-ARA>



Diesel Trades Bids Offers Previous Seller Buyer Session
Diesel Feb Relianc Hartre barge -$0.75 e, e, diffs fob to Feb Shell Mabana ARA flat ft, Per tonne Vitol, <ULSD10-BD- Gunvor ARA>
Diesel Feb BP Valen, cargo +$10-$ Vitol, diffs cif 11 (3 Trafig NWE cargoe ura Per tonne s
<ULSD10-ANY Hambur
D-NWE> g,


Amster


dam)
Diesel
cargo
diffs cif
Med
per tonne
<DL-CIFD-ME
D>



Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel CCM +$26
barge
diffs fob
FARAG
per tonne
<JET-BD-ARA
>
Jet fuel TQC $16,
cargo TQC $22
cif NEW per
tonne
<JET-CD-NWE
>
Fuel Oil Trades Bids Offers Previous Sell Buy Session
0.5% barge $578-$59
fob ARA per 0
tonne
3.5% barge $358-$36 $377-$38 Gunvor Penins fob ARA per 7 5 ula, tonne BP, Vitol ICE Low Sulphur Gasoil Previous Diesel ARA Barge $33.8 $35.2 Crack(per barrel)
Diesel spread (Reporting by Ahmad Ghaddar; Editing by Kirsten Donovan)

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