Europe Distillates-Diesel margins drop after ARA stocks rise

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, May 12 (Reuters) - Benchmark Northwest European diesel barge refining margins declined to $15.3 a barrel on Friday following a large rise in regional stocks.
* Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area rose more than 6% in the week to Thursday, data from Dutch consultancy Insights Global showed.
* U.S. distillate stockpiles, which include diesel and heating oil, fell last week by 4.2 million barrels in the week to 106.2 million barrels, versus expectations for an 800,000-barrel drop, EIA data showed.
* Diesel arrivals in Europe from the East in April soared to a record high of 4.27 million tonnes, Refinitiv data showed, with May arrivals on the route already at 2.47 million tonnes.


* The Mideast Gulf's share of the total imports reached 2.66 million tonnes or 38.2%, propelling the region for the first time into the position of the biggest exporter to Europe.
* Sour crude oil supplies for U.S. Gulf Coast oil refiners will be squeezed in coming weeks, market participants said, as global demand rises following this month's OPEC+ production cut. 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 0.1 GO Cargo
diffs cif Med
per tonne 50ppm barge May
diffs fob ARA +$1.50
per tonne
<GO50PPM-ED-A
RA>



Diesel Trades Bids Offers Previous Seller Buyer Session
Diesel barge June June May flat Gunvor Mabana diffs fob ARA +$4.50 +$2 - May ft Per tonne +$1
<ULSD10-BD-AR (12.1KT)
A>
Diesel cargo June June
diffs cif NEW +$12(Br +$16
Per tonne est) (Le
<ULSD10-ANYD- Havre)
NWE>
Diesel cargo June June
diffs cif Med +$7 +$17.5
per tonne (Lavera 0 ) (Mersi


n)



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 $485 $489 Trafig BP fob ARA per ura
tonne
3.5% barge $397.50-$ $403-$40 Shell Total fob ARA per 399 3.50
tonne ICE Low Sulphur Gasoil Previous Diesel ARA Barge $16.55 $15.99 Crack(per barrel)
Diesel spread (Reporting by Ron Bousso; Editing by)

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