Europe Distillates-Diesel profit margins edge up as ARA stocks fall

LONDON, Nov 28 (Reuters) - Northwest European diesel profit margins rose slightly to $17.93 per barrel, as ARA gasoil inventories dropped on the back of firm demand up the river Rhine.

• In the Platts window for Mediterranean ULSD cargoes, Trafigura offered a 27,000 ton ULSD cargo, while Aramco Trading, BP and Vitol sought cargoes. In the Mediterranean high-sulphur gasoil cargo market, Petroineos offered a cargo, while Bayegan sought a cargo. No trades were concluded in either market.

• Scarce supply and improving demand have been offering support to distillates market, according to James Noel-Beswick of Sparta Commodities.

• ARA gasoil stocks, including diesel and heating oil, fell by 5% on the week to 2.26 million tons, according to consultancy Insights Global.

• Gasoil demand up the river Rhine remained high owing to high water levels that allow buyers to replenish stocks, said Lars van Wageningen of Insights Global.

• A single gasoil cargo arrived in ARA in the past week from South Korea, while gasoil cargoes departed for France, Ireland, Norway, Poland, Sweden, U.K. and U.S.

• Fuel oil stocks fell by 2% on the week to 1.19 million tons, marking the lowest in more than a year, Insights Global data showed.

• EU and UK diesel and gasoil imports are on track to fall to 1.20 million barrels per day this month, down from 1.28 million bpd in October, Kpler data showed.

(Reporting by Enes Tunagur)

((Enes.Tunagur@thomsonreuters.com;))