off-the-wire

Europe Distillates-Margins ease as French refineries restart

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, April 11 (Reuters) - Northwest European diesel barge margins edged lower on Tuesday to around $18.10 per barrel as French refineries returned to operation after a month of strikes.
* The Gonfreville refinery in northern France run by TotalEnergies


started returning to operation on Tuesday, the company said, marking the last of its four domestic refineries to restart.


* However, the hardline CGT union will call for a walkout at all refineries on Thursday as part of a planned nationwide strike against the French government's plans to raise the retirement age by two years to 64, representative Eric Sellini told Reuters.


* Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area rose for the first time in six weeks, data from Dutch consultancy Insights Global showed on April 6.


* Gasoil inventories rose on high import levels and as exports slowed to France, said Insights Global's Lars van Wageningen.


* Russia started


fuel exports to Iran by rail this year for the first time after traditional buyers shunned trade with Moscow, according to three industry sources and exports data.


* Russia has also increased its


diesel exports to Brazil and other parts of Latin America, traders said and Refinitiv Eikon data showed.
Trades Bids Offers Previous Seller Buyer Session
0.1 GO
Barge
diffs fob
ARA per
tonne 0.1 GO TQC +$21
Cargo
diffs cif
NWE per
tonne
<GO-CND-NWE
>
0.1 GO April
Cargo -$4
diffs cif
Med per
tonne
<GO-CND-MED
>
50ppm barge April
diffs fob -$0.50
ARA per
tonne
<GO50PPM-ED
-ARA>



Diesel Trades Bids Offers Previous Seller Buyer Session
Diesel April April Glencor Mabana barge flat to $0.75-$1 e, ft, diffs fob April .25 Shell Totsa, ARA +$2, GST, Per tonne May Vitol <ULSD10-BD- +$6(16.
ARA> 3 KT)
Diesel April April
cargo +$20 +$21
diffs cif
NWE
Per tonne
<ULSD10-ANY
D-NWE>
Diesel May Med +$9
cargo +$14
diffs cif
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 TQC +$7 Glencor Totsa cargo e
cif NWE per
tonne
<JET-CD-NWE
>


Fuel Oil Trades Bids Offers Previous Sell Buy Session
0.5% barge $553 $557 BP Exxon fob ARA per
tonne
3.5% barge $452-$453 $447-$44 Gunvor Unite fob ARA per 8 , d, tonne Mercur Shell ia
ICE Low Sulphur Gasoil Previous Diesel ARA Barge $18.3 $18.1 Crack(per barrel)
Diesel spread (Reporting by Ahmad Ghaddar; Editing by Shailesh Kuber)

ahmad.ghaddar.thomsonreuters.com@reuters.net))
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