Europe Distillates-Diesel cracks edge lower on easing supply concerns

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Feb 15 (Reuters) - Northwest European diesel barge profit margins dropped to $26.8 a barrel on Wednesday and easing supply concerns in the region following the EU ban on Russian fuel imports from Feb. 5.


* U.S. distillate stockpiles, which include diesel and heating oil, fell last week by 1.3 million barrels to 119.2 million barrels, versus expectations for a 400,000-barrel rise, EIA data showed.
* Diesel supplies and imports into Europe remained high even after the EU ban on Russian fuel imports took effect.


* 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 Mar Mar March
barge -$6.5 -$3 -$3-$4.5
diffs fob 0 0
ARA
Per tonne
<ULSD10-BD-
ARA>
Diesel Mar March
cargo +$7 +$15(A
diffs cif (Tham msterd
NEW es) am)
Per tonne
<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 Mar March Shell BP barge +$60 +$62.5
diffs fob 0
FARAG
per tonne
<JET-BD-ARA
>
Jet fuel March
cargo +$60-$
cif NEW per 61(Le
tonne Havre)
<JET-CD-NWE
>
Fuel Oil Trades Bids Offers Previous Sell Buy Session
0.5% barge $549-$55 $566-$56 Trafig Vitol fob ARA per 0 8 ura
tonne
3.5% barge $379-$38 $385-$38 Total BP fob ARA per 0 8
tonne ICE Low Sulphur Gasoil Previous Diesel ARA Barge $26.8 $27.5 Crack(per barrel)
Diesel spread (Reporting by Ron Bousso; Editing by Shailesh Kuber)

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