off-the-wire

Europe Distillates-Margins slip furtehr as heavy imports weigh

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, April 17 (Reuters) - Benchmark Northwest European diesel refining margins on Monday fell below $16 a barrel, their lowest since Feb. 25, 2022, as imports into the region remained high.
* The Group of Seven (G7) coalition will keep a $60 per barrel price cap on seaborne Russian oil, a coalition official said, despite rising global crude prices and calls by some countries for a lower price cap to restrict Moscow's revenues.
* Diesel arrivals from the Middle East and Asia Pacific into Europe are set to reach 3.36 million tonnes this month, up from the 3.1 million tonnes in March, according to Refinitiv tracking.


* 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.
* Several Asian refiners are likely to maximise gasoline output from May and reduce gasoil output, cashing in on higher profits for the motor fuel ahead of the peak summer driving season, industry sources and analysts say. 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
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 May
barge +$2-$3 +$5-$6 +$6-$6.5
diffs fob 0
ARA (23.25KT
Per tonne )
<ULSD10-BD-
ARA>
Diesel May May May
cargo +$17.50 +$22 +$23.50
diffs cif (Hambur (Le (Thames)
NEW g) Havre)
Per tonne
<ULSD10-ANY
D-NWE>
Diesel May
cargo +$15
diffs cif (Koper
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 May May
cargo +$41 +$50
cif NEW per (Rotte
tonne rdam)
<JET-CD-NWE
>


Fuel Oil Trades Bids Offers Previous Sell Buy Session
0.5% barge $540 $548-$55 Total OEI fob ARA per 0
tonne
3.5% barge $452-$454 $457-$45 Gunvor Vitol fob ARA per 8
tonne ICE Low Sulphur Gasoil Previous Diesel ARA Barge $18.6 $17.3 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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