off-the-wire

Europe Distillates-Diesel margins recover from 14-month low

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, April 24 (Reuters) - Benchmark Northwest European diesel barge refining margins rose from a 14-month low to $14.89 a barrel on Monday, though strong imports capped gains.
* Demand in the region remained stable with seasonal demand from the agricultural sector, but strong imports into the region continued to weigh on prices, traders said.
* European diesel imports are set to reach 6.59 million tonnes in April, up from the revised 6.11 million tonnes in March, Refinitiv data showed.
* Turkey remains the top destination for Russian diesel exports after an embargo on shipments to Europe forced traders to divert supplies to Asia, Africa, the Middle East and ship-to-ship (STS) loadings, according to traders said and Refinitiv Eikon data. 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 0.1 GO Cargo
diffs cif Med
per tonne 50ppm barge
diffs fob ARA
per tonne
<GO50PPM-ED-A
RA>



Diesel Trades Bids Offers Previous Seller Buyer Session
Diesel barge May May Shell BP, diffs fob ARA +$1-$1. +$2-$3 Vitol Per tonne 50
<ULSD10-BD-AR
A>
Diesel cargo May May
diffs cif NEW +$14 +$21
Per tonne (Donges (Le
<ULSD10-ANYD- ) Havre)
NWE>
Diesel cargo
diffs cif Med
per tonne Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel
barge
diffs fob
FARAG
per tonne Jet fuel
cargo
cif NEW per
tonne Fuel Oil Trades Bids Offers Previous Sell Buy Session
0.5% barge $532 $510-$51 BP OEI fob ARA per 3.50
tonne
3.5% barge $441-$443 $435.5-$ Total Shell fob ARA per 436
tonne ICE Low Sulphur Gasoil Previous Diesel ARA Barge $13.50 $13.70 Crack(per barrel)
Diesel spread (Reporting by Ron Bousso Editing by Vinay Dwivedi)

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