Europe Distillates-Diesel cracks rise as Russian fuel ban curbs imports

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Feb 14 (Reuters) - Northwest European diesel barge profit margins edged up to $27.70 a barrel on Tuesday after data showed a drop in imports into the region following the EU ban on Russian fuel imports from Feb. 5.


* Diesel supplies and imports into Europe remained high even after the EU ban on Russian fuel imports took effect on Feb. 5.


* About 5.5 million tonnes of diesel is already scheduled to arrive into Europe this month, compared with 7.73 million tonnes in January, Refinitiv analysis shows.


* The February imports are still 12% higher than a year earlier, according to Refinitiv.
* Russian diesel exports took a massive hit in the week to Feb. 12, tumbling to about 550,000 tonnes compared with the 1.23 million tonnes that loaded in the week to Feb. 5, Refinitiv data shows.


* Shell's 400,000 barrel per day Pernis refinery in Rotterdam will undergo major maintenance from the start of March through to the end of May, the company said on Tuesday. Trades Bids Offers Previous Seller Buyer Session
0.1 GO April
Barge -$19
diffs fob
ARA per
tonne 0.1 GO
Cargo
diffs cif
NWE per
tonne
<GO-CND-NWE
>
0.1 GO Mar
Cargo -$2
diffs cif (Alge
Med per ciras
tonne )
<GO-CND-MED
>
50ppm barge March
diffs fob -$4.5
ARA per 0
tonne
<GO50PPM-ED
-ARA>



Diesel Trades Bids Offers Previous Seller Buyer Session
Diesel March March Relianc Vitol, barge -$3-$4 -$6-$6.5 e Mabana diffs fob .50 0 ft ARA
Per tonne
<ULSD10-BD-
ARA>
Diesel March
cargo +$12.5
diffs cif 0-$16
NEW (Amste
Per tonne rdam)
<ULSD10-ANY
D-NWE>
Diesel March
cargo +$3
diffs cif (Barc
Med elona
per tonne )
<DL-CIFD-ME
D>



Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel March
barge +$62.5
diffs fob 0
FARAG
per tonne
<JET-BD-ARA
>
Jet fuel March
cargo +$68.5
cif NWE per 0 (Le
tonne Havre)
<JET-CD-NWE
>
Fuel Oil Trades Bids Offers Previous Sell Buy Session
0.5% barge $566-$56 $570.25 Maersk OEI fob ARA per 8
tonne
3.5% barge $385-$38 $391-$39 Gunvor BP fob ARA per 8 2
tonne ICE Low Sulphur Gasoil Previous Diesel ARA Barge $27.5 $26.3 Crack(per barrel)
Diesel spread (Reporting by Ron Bousso Editing by David Goodman )

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