Europe Distillates-Cracks rise, U.S. stocks post surprise gain

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, March 1 (Reuters) - Northwest European diesel barge profits rose above $29 a barrel on Wednesday amid thin trade after data showed an unexpected rise in U.S. inventories last week.
* U.S. distillate stockpiles, which include diesel and heating oil, rose by 200,000 barrels in the week to 122.1 million barrels, versus expectations for a 500,000-barrel drop, EIA data showed.
* 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 the previous plan to record-high 1.9 million tonnes despite an European Union embargo that 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 6.2 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 Mar March March Glencor BP barge flat -$2 flat e
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-$54
fob ARA per 7
tonne
3.5% barge $381-$386 $381-$38 Total, BP fob ARA per 4 Vitol
tonne ICE Low Sulphur Gasoil Previous Diesel ARA Barge $29.2 $27.8 Crack(per barrel)
Diesel spread (Reporting by Ron Bousso; Editing by Shinjini Ganguli)

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