off-the-wire

Europe Distillates-Margins hold steady as regional stocks fall

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, April 13 (Reuters) - Benchmark Northwest European diesel refining margins were broadly steady at about $17.3 a barrel on Thursday, a 13-month low, as regional stocks eased.
* Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area fell by more than 1% in the week to Thursday, data from Dutch consultancy Insights Global showed on Thursday.
* Gasoil stocks stood at 2.36 million tonnes and fell amid higher flows up the Rhine river, Insights Global's Bianca Stoiciu said.
* Diesel refining margins have been under pressure as imports from Asia, the Middle East and the United States rose to record highs in recent months, replacing Russian volumes that the European Union banned on Feb. 5.
* Oil products shipments from TotalEnergies' Donges and La Mede refineries were disrupted on Thursday, a company spokesperson said, with 20% of operational staff having joined strike action over the government's pension reforms.
* The strikes had previously shuttered production at the company's refineries, but its Gonfreville, Donges and La Mede sites were increasing production on Thursday, the spokesperson said.
* Buying activity in inland German markets has, however, picked up in recent days, as end-users take advantage of lower diesel price spreads, traders said. Trades Bids Offers Previous Seller Buyer Session
0.1 GO
Barge
diffs fob
ARA per
tonne 0.1 GO
Cargo
diffs cif
NWE per
tonne
<GO-CND-NWE
>
0.1 GO
Cargo
diffs cif
Med per
tonne
<GO-CND-MED
>
50ppm barge
diffs fob
ARA per
tonne
<GO50PPM-ED
-ARA>



Diesel Trades Bids Offers Previous Seller Buyer Session
Diesel May May Gunvor, BP, barge +$6-$6. +$5.50-$ Shell, Mabana diffs fob 50 6 Glencor ft ARA (23.25K e
Per tonne T)
<ULSD10-BD-
ARA>
Diesel May Vitol BP cargo +$23.50
diffs cif (Thames
NWE )
Per tonne
<ULSD10-ANY
D-NWE>
Diesel May
cargo +$10
diffs cif
Med
per tonne
<DL-CIFD-ME
D>



Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel CCM -$4 Totsa Shell barge
diffs fob
FARAG
per tonne
<JET-BD-ARA
>
Jet fuel May
cargo +$48
cif NWE per
tonne
<JET-CD-NWE
>


Fuel Oil Trades Bids Offers Previous Sell Buy Session
0.5% barge
fob ARA per
tonne
3.5% barge $460-$462 $457-$45 Totsa, Vitol fob ARA per 9 Gunvor , tonne Maers k, Penin sula ICE Low Sulphur Gasoil Previous Diesel ARA Barge $ $ Crack(per barrel)
Diesel spread (Reporting by Ahmad Ghaddar)

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