Breaking News
0

Europe Distillates-Cracks drop sharply after U.S. stocks build

CommoditiesDec 06, 2018 22:30
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Europe Distillates-Cracks drop sharply after U.S. stocks build

LONDON, Dec 6 (Reuters) - Northwest European diesel refining margins dropped sharply on Thursday after a big drop in U.S. inventories.

* U.S. distillate stockpiles, which include diesel and heating oil, rose last week by 3.8 million barrels, versus expectations for a 1.2 million-barrel increase, EIA data showed. EIA/S

* ARA gasoil stocks dropped in the week to Thursday for an eighth straight week as imports into the region dropped sharply, Dutch consultancy PJK International said. ARA/

* Imports into the ARA hub dropped in recent months as a result of the low water levels along the Rhine river that cut off key inland consumer market.

* ARA fuel oil stocks rose by 18 percent to 1.1 million tonnes as exports to Asia slowed.

* France's hard-left CGT trade union on Thursday called on its energy industry workers to walk out for 48 hours from Dec. 13, saying it wanted to join forces with 'yellow vest' protesters. Water levels along key sections of the Rhine river rose sharply in recent days following rainfall, leading to a sharp drop in barge freight rates.

* In the lower and middle Rhine section barges are able to load up to 3,000 tonnes of fuel, allowing some restocking in inland markets that have been cut off from the ARA hub for months, according to Lars van Wageningen of Dutch consultancy PJK Internationa.

* Upper Rhine barge activity remains limited due to low water levels, with barges able to load 1,500-2,000 tonnes.

* The water levels in all segments are expected to reduce again due to limited rainfall and some forecasts of snow, van Wageningen added.

* Diesel imports in the region are set to rise in the coming weeks due to the arrival of several large vessels from the Middle East, Asia as well as higher shipments from Russia, traders said.

* OPEC tentatively agreed an oil-output cut on Thursday but was waiting to hear from non-OPEC heavyweight Russia before deciding the exact volumes for a reduction aimed at propping up crude prices, two sources from the group said. Bids

Offers Prvs. Seller Buyer

(vol.)

Sessio

n

Gasoil

0.1 GO Barge

-

-

Dec.

-

- diffs fob

-$17-$

ARA

18

per tonne

GO-ED-ARA

0.1 GO Cargo -

-

-

-

-

- diffs cif

NWE

per tonne

GO-CND-NWE

0.1 GO Cargo -

Dec.

-

-

-

- diffs cif

+$1.75

Med

per tonne

GO-CND-MED

50ppm barge Dec

-

Dec.

Dec

-

- diffs fob

+$3

+$8

+$4-$4

ARA

.25

per tonne

<GO50PPM-ED-

ARA>

Diesel

Trades Bids

Offers Prv

Seller Buyer

Sessio

n

Diesel barge Dec

-

-

Dec

-

- diffs fob

+$4-$5

+$7-$8

ARA

.50

Per tonne

<ULSD10-BD-A

RA>

Diesel cargo -

Jan

Dec

-

-

- diffs cif

+$7

flat

NWE

Per tonne

<ULSD10-ANYD

-NWE>Nov

Diesel cargo -

-

Dec.

-

-

- diffs cif

+$5.5

Med

per tonne

<DL-CIFD-MED

>

Jet fuel

Trades Bids

Offers Prv

Sell

Buy

Sessio

n

Jet fuel

-

-

-

Dec.

KLM

BP (LON:BP) barge

+$39

diffs fob

FARAG

Per tonne

JET-BD-ARA

Jet fuel

-

-

Dec.

-

-

- cargo

+$37

cif NWE

per tonne

JET-CD-NWE

Fuel Oil

3.5pct barge $344-$

$372-$ Vitol Gunvor fob ARA

352

378

per tonne

HFO-ARA

GMT 1618

Change

ICE (NYSE:ICE) Low Sulphur Gasoil LGOc1

$561.50

-4.35 pct Diesel crack LGOc1-LCOc1

$14.8342

-6.6 pct Diesel spread LGOc1-LGOc2

$9.25

-$0.75

Europe Distillates-Cracks drop sharply after U.S. stocks build
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email