LONDON, Nov 5 (Reuters) - Northwest European diesel barge profit margins rose slightly to about $17.40 a barrel on Tuesday, boosted by firmer demand, and as a fire hit one of Turkey's refineries.
A fire at the site of Turkey's top oil refiner Tupras during work on a compressor lightly injured 12 people in the country's northwest, the company said on Tuesday.
The fire was under control and the unit was deactivated, Tupras said in a statement, adding that the wounded were sent to hospital in Kocaeli province. Other operations in the refinery carried on as usual, it said.
It wasn't immediately clear if the fire impacted fuel production there.
"The European diesel market has seen a rebound over the week driven by rising inland demand and notable stock draws, contributing to improved margins; however, a resurgence of local refinery operations and increased supply could potentially limit price increases, particularly if winter demand in the region remains subdued going ahead," LSEG analyst Rakesh Varma said.
EU and UK diesel and gasoil imports reached about 1.26 million barrels per day in October, slightly above September levels, Kpler data showed.
November imports are set to reach 941,000 bpd, Kpler data showed.
Varma said that large volumes of Indian diesel exports are being redirected to the East this month, which will lead to lower arrivals into Europe.
Trades | Bids | Offers | Previous Session | Seller | Buyer | |
|---|---|---|---|---|---|---|
0.1 GO Barge diffs fob ARA per tonne GO-ED-ARA | ||||||
0.1 GO Cargo diffs cif NWE per tonne GO-CND-NWE | ||||||
0.1 GO Cargo diffs cif Med per tonne GO-CND-MED | MCM +$1 | |||||
50ppm barge diffs fob ARA per tonne GO50PPM-ED-ARA | ||||||
Diesel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Diesel barge diffs fob ARA per tonne ULSD10-BD-ARA | ||||||
Diesel cargo diffs cif NWE per tonne ULSD10-ANYD-NWE | ||||||
Diesel cargo diffs cif Med per tonne DL-CIFD-MED | Dec +$8 | Nov +$14 | ||||
Jet fuel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Jet fuel barge diffs fob FARAG per tonne JET-BD-ARA | ||||||
Jet fuel cargo cif NWE per tonne JET-CD-NWE |
Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per tonne | $515-$520 | $500-$517 | ||||
3.5% barge fob ARA per tonne HFO-ARA | $447-$468 | $433-$449 |
ICE Low Sulphur Gasoil | LGOc1 | Previous |
Diesel ARA Barge Cracks vs Brent futures (per barrel) | $17.37 | $17.11 |
Diesel spread | LGOc1-LGOc2 |
(Reporting by Ahmad Ghaddar; Editing by Devika Syamnath)
((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))
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