Europe Distillates-Cracks rise, supplies remain high

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Feb 27 (Reuters) - Northwest European diesel barge profits rose above $29 a barrel on Monday amid a decline in crude oil prices while supplies in the region remained high.
* Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area rose to a two-year high last week, data from Dutch consultancy Insights Global showed on Thursday.
* U.S. distillate stockpiles, which include diesel and heating oil, rose 2.7 million barrels compared with forecasts for a 1.1 million-barrel draw, EIA data showed. At 121.9 million barrels, distillate supplies were at their highest since January 2022.
* Diesel imports into Europe from Asia, the Middle East, the United States and Russia before the EU ban on Russian imports kicked in on Feb. 5 are set to reach 6.5 million tonnes in February, based on current shipping data carried by Refinitiv. That compared with a total of 7.15 million tonnes in January.
* Imports from Asia and the Middle East in February are on course to hit a record 4.22 million tonnes, Refinitiv 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 Mar +$3 Apr
Cargo (Lavera +$12
diffs cif ) (Laver
Med per a)
tonne
<GO-CND-MED
>
50ppm barge March
diffs fob -$4,
ARA per -$5
tonne
<GO50PPM-ED
-ARA>



Diesel Trades Bids Offers Previous Seller Buyer Session
Diesel March March
barge -$4 to +$1
diffs fob -$2
ARA
Per tonne
<ULSD10-BD-
ARA>
Diesel Mar March
cargo +$12 +$14
diffs cif (Thames (Thames)
NWE ) , +$15
Per tonne (Amsterd
<ULSD10-ANY am)
D-NWE>
Diesel March
cargo +$4
diffs cif (Lavera
Med )
per tonne
<DL-CIFD-ME
D>



Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel
barge
diffs fob
FARAG
per tonne
<JET-BD-ARA
>
Jet fuel March
cargo +$61
cif NEW per (Milford
tonne Haven)
<JET-CD-NWE
>
Fuel Oil Trades Bids Offers Previous Sell Buy Session
0.5% barge $536-$539 $531-$53 Trafig Vitol fob ARA per 5 ura
tonne
3.5% barge $371 $379-$38 Vitol Penin fob ARA per 2 sula tonne ICE Low Sulphur Gasoil Previous Diesel ARA Barge $29.2 $25.5 Crack(per barrel)
Diesel spread (Reporting by Ron Bousso; Editing by Shilpi Majumdar)

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