Europe Distillates-Diesel margins dip with US set to rise

Reuters01:16

LONDON, Nov 22 (Reuters) - Northwest European diesel profit margins dropped on Friday to $18.80 a barrel after Atlantic basin inventories declined while imports into the region were set to rise.

Traders said diesel exports from the U.S. Gulf Coast were set to rise in November from the previous month.
Gasoil stocks independently held in the Amsterdam-Rotterdam-Antwerp $(ARA)$ refining and storage hub declined by 2% in the week to Thursday, data from Dutch consultancy Insights Global showed.
Gasoil stocks, which include diesel and heating oil, declined to 2.37 million tons due to strong demand in inland markets up the Rhine River, Insight Global's Lars van Wageningen said.
U.S. distillate stockpiles, which include diesel and heating oil, fell last week by 100,000 barrels to 114.3 million barrels, versus expectations for a 20,000-barrel decline, EIA data showed.

	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 NEW per tonne ULSD10-ANYD-NWE		Dec +$11.50	Dec +$18
Diesel cargo diffs cif Med per tonne DL-CIFD-MED		Dec +$13	Dec +$11	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 NEW per tonne JET-CD-NWE

Fuel Oil

Trades

Bids

Offers

Previous Session

Seller

Buyer

0.5% barge fob ARA per tonne

$419-420 (3 barges)

3.5% barge

fob ARA per tonne HFO-ARA

$493.25-494 (6 barges)

ICE Low Sulphur Gasoil	LGOc1	Previous
Diesel ARA Barge Cracks vs Brent futures (per barrel)	$18.80	$19.29
Diesel spread	LGOc1-LGOc2

(Reporting by Ron Bousso; Editing by Shreya Biswas)

((Ron Bousso

email: ron.bousso@thomsonreuters.com

Twitter: https://twitter.com/ronbousso1

Tel.: +44 (0)207 542 2161

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Europe Distillates-Diesel margins dip with US set to rise

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