Europe Distillates Diesel cracks drop despite tightening Atlantic stocks

  • 1/20/2022
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LONDON, Jan 20 (Reuters) - Northwest European diesel barge margins declined on Thursday even after data showed inventories had declined in Europe and the United States. Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area fell 8% to 1,686 million tonnes in the week to Thursday, data from Dutch consultancy Insights Global showed. Gasoil stocks were well below their five-year average for this time of the year of around 2.475 million tonnes. Royal Dutch Shell said on Wednesday it plans to carry out major maintenance work at its Pernis oil refinery in the Netherlands in the coming five months. U.S. distillate stockpiles, which include diesel and heating oil, fell by 1.4 million barrels in the week to 128 million barrels, versus expectations for an 850,000-barrel drop, EIA data showed. Diesel prices have risen in recent days due to tighter supplies, lower imports and colder weather in the region, traders said. Diesel imports from Asia and the Middle East into Europe were set to drop sharply this week, with just one tanker with a 42,000 tonne cargo set to discharge, compared with 320,000 tonnes last week, according to Refinitiv analysts. Trades Bids Offers Previous Session Seller Buyer 0.1 GO Barge diffs fob ARA per tonne 0.1 GO Cargo diffs cif NWE per tonne Feb -$1.50 (Le Havre) 0.1 GO Cargo diffs cif Med per tonne 50ppm barge diffs fob ARA per tonne Feb -$1.50 (3KT) Diesel Trades Bids Offers Previous Session Seller Buyer Diesel barge diffs fob ARA Per tonne Feb +$4.50-$5 Feb +$6-$6.50 Litasco Total Diesel cargo diffs cif NWE Per tonne Feb +$10 (Donges) Feb +$2 (Amsterdam) Feb +$7-$8 (Le Havre) Feb +$3 (Hamburg) BP Total Diesel cargo diffs cif Med per tonne Feb +$7 (Lavera) Jet fuel Trades Bids Offers Previous Session Seller Buyer Jet fuel barge diffs fob FARAG per tonne Jet fuel cargo cif NWE per tonne Feb +$43 (Rotterdam) Feb +$60-$61 (Le Havre) Fuel Oil Trades Bids Offers Previous Session Sell Buy 0.5% barge fob ARA per tonne $637-$639 $636-$637 3.5% barge fob ARA per tonne $490-$491 $471.25-$474.50 ICE Low Sulphur Gasoil Diesel ARA Barge Crack(per barrel) Diesel spread email: ron.bousso@thomsonreuters.com Twitter: https://twitter.com/ronbousso1 Tel.: +44 (0)207 542 2161 Reuters Messaging: ))

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