off-the-wire

Europe Distillates-Diesel margins rise, high stocks weigh

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, May 15 (Reuters) - Benchmark Northwest European diesel barge refining margins rose to about to $17 a barrel on Monday in thin trading activity, but high levels of regional inventories limited further gains.


* Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area rose more than 6% in the week to May 11, data from Dutch consultancy Insights Global showed.
* High imports were also weighing on margins.


* 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.
* A fire broke out in a unit at Marathon's plant in Galveston Bay on Monday, the Texas City Emergency Management said on Twitter, adding no "shelter in place" was needed.
* Marathon, which operates the 593,000-barrel-per-day refinery, could not be immediately reached for comment. 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
diffs fob ARA
per tonne
<GO50PPM-ED-A
RA>



Diesel Trades Bids Offers Previous Seller Buyer Session
Diesel barge June June Vitol, Maban diffs fob ARA +$5.75- +$4.50 Chevro aft Per tonne $6.50 n,
<ULSD10-BD-AR Gunvor
A>
Diesel cargo June
diffs cif NWE +$11.5
Per tonne 0
<ULSD10-ANYD-
NWE>
Diesel cargo June
diffs cif Med +$2
per tonne Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel
barge
diffs fob
FARAG
per tonne Jet fuel Totsa Shell cargo CCM -$3
cif NWW per
tonne Fuel Oil Trades Bids Offers Previous Sell Buy Session
0.5% barge $487-$488 $485 Trafig BP fob ARA per ura
tonne
3.5% barge $398-$400 $397.50- Shell, BP, fob ARA per $399 Gunvor Penin tonne sula, Vitol ICE Low Sulphur Gasoil Previous Diesel ARA Barge $17.10 $15.40 Crack(per barrel)
Diesel spread (Reporting by Ahmad Ghaddar; Editing by Shilpi Majumdar)

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