off-the-wire

Europe Distillates-Cracks decline, Russia to boost exports

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Feb 28 (Reuters) - Northwest European diesel barge profits declined to about $28 a barrel on Tuesday amid thin trade and as Russia was set to sharply increase its diesel exports.
* Russia's exports of ultra-low sulphur diesel (ULSD) from the Baltic Sea port of Primorsk are set to rise by 11% in February versus previous plan to record-high 1.9 million tonnes despite an European Union embargo which kicked in on Feb. 5, traders said and Refinitiv data showed.
* According to Refinitiv data, Russia diverted its diesel supplies from the Baltic port of Primorsk in February to Algeria, Turkey, Tunisia, Morocco, Ghana and Brazil.
* 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.
* 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. 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 -$2 flat
diffs fob
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 $546-$547 $536-$53
fob ARA per 9
tonne
3.5% barge $381-$384 $371
fob ARA per
tonne ICE Low Sulphur Gasoil Previous Diesel ARA Barge $29.2 $25.5 Crack(per barrel)
Diesel spread (Reporting by Ron Bousso; Editing by Krishna Chandra Eluri)

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