Europe Distillates-Diesel margins slip on high imports

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, April 25 (Reuters) - Benchmark Northwest European diesel barge refining margins fell to $14.40 a barrel on Tuesday, hovering near a 14-month low, in a well-supplied market.
* Diesel exports to Europe are set to sore to 7.37 million tonnes in April, their highest since January, Refinitiv data shows.
* Exports from the East for arrival in April are set to reach a new record high of 4.39 million tonnes, the data showed.
* Demand in the Europe remained stable with seasonal demand from the agricultural sector, but strong imports into the region continued to weigh on prices, traders said.
* Diesel refining margins in Asian and U.S. markets have been under pressure as Russian exports continue despite sanctions, helping output from China and India reach all-time highs in March.


* The 97,000 barrels per day refinery at Lingen in Germany was taken offline for a planned major maintenance in mid-April, operator BP said in a statement, without specifying the length of the shutdown. 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 Vitol diffs fob ARA +$1-$1. +$1-$1.5
Per tonne 75 0
<ULSD10-BD-AR (7KT)
A>
Diesel cargo May May
diffs cif NWE +$13 +$18
Per tonne
<ULSD10-ANYD-
NWE>
Diesel cargo
diffs cif Med
per tonne Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel FBH -$3 CCM
barge -$2
diffs fob
FARAG
per tonne Jet fuel CCM CCM
cargo flat -$2
cif NEW per
tonne Fuel Oil Trades Bids Offers Previous Sell Buy Session
0.5% barge $532
fob ARA per
tonne
3.5% barge $434 $441-$44 Totsa OEI, fob ARA per 3 BP tonne ICE Low Sulphur Gasoil Previous Diesel ARA Barge $14.4 $15 Crack(per barrel)
Diesel spread (Reporting by Ahmad Ghaddar)

ahmad.ghaddar.thomsonreuters.com@reuters.net))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.