LONDON, Nov 20 (Reuters) - Northwest European diesel profit margins were little changed on Wednesday, falling 6 cents to $18.77 a barrel, while in the U.S., diesel stocks fell by more than analysts' expectations.
Diesel margins were at their highest since August at the start of this week, LSEG data show.
"Despite higher inventories at the ARA hub, the combination of strong winter demand and easing incoming flows is likely to sustain current market momentum," LSEG analyst Rakesh Varma said on Tuesday.
U.S. crude oil and gasoline inventories last week rose more than forecast, while distillate stockpiles posted a larger-than-expected draw, the Energy Information Administration said on Wednesday.
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell by 100,000 barrels in the week to 114.3 million barrels, versus expectations for a 20,000-barrel decline.
Asia's jet fuel imports from India are set to hit multi-year highs in November ahead of peak winter demand after refinery outages and lower exports from China crimped supplies, according to industry sources and ship tracking data.
Nigerian state-owned oil firm NNPC Ltd has issued a tender to export a fuel oil cargo from its mothballed Port Harcourt oil refinery, the latest step towards resuming operations at the plant, an official said on Wednesday.
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 NEW per tonne GO-CND-NWE | ||||||
0.1 GO Cargo diffs cif Med per tonne GO-CND-MED | Dec +$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 | Dec +$12 | |||||
Diesel cargo diffs cif Med per tonne DL-CIFD-MED | Dec +$9.50 | Med +$0.75 | ||||
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 | CCM -$5 | CCM -$3 |
Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per tonne | $419-420 (3 barges) | Orim, Gunvor | Peninsula | |||
3.5% barge fob ARA per tonne HFO-ARA | $493.25-494 (6 barges) | Mercuria, BP | United, Total, Orim, Mercuria |
ICE Low Sulphur Gasoil | LGOc1 | Previous |
Diesel ARA Barge Cracks vs Brent futures (per barrel) | $18.77 | $18.83 |
Diesel spread | LGOc1-LGOc2 |
(Reporting by Robert Harvey; Editing by Tasim Zahid)
((Robert.Harvey@thomsonreuters.com; +447552256587;))
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