Europe Distillates-Diesel margins up on firm demand

  • Reuters
  • Commodities News
Europe Distillates-Diesel margins up on firm demand

LONDON, Aug 13 (Reuters) - Benchmark diesel refining margins in northwest Europe rose to nearly $17 a barrel on Tuesday, boosted by firm demand.

* Diesel imports into Europe and the Mediterranean in August were expected to be similar to July, but stronger prices in Asia have led to some cargoes being diverted in recent days, traders said.

* Exports from the Middle East to Europe were expected to reach more than 2 million tonnes in August after a number of new tankers were booked in recent days, traders said.

* The European Commission on Tuesday imposed countervailing duties of 8% to 18% on imports of subsidised biodiesel from Indonesia, saying the move aimed to restore a level playing field for European Union producers. Trafigura is joining forces with shipping firms Frontline and Golden Ocean to supply marine fuel that will be compatible with IMO 2020 rules. Motiva Enterprises returned two crude distillation units back to normal operations at its 607,000 barrel per day (bpd) Port Arthur refinery over the weekend, sources familiar with plant operations said. Gasoil

Trades Bids

Offers Previous Seller Buyer

Session

0.1 GO

Barge

diffs fob

ARA per

tonne

>

0.1 GO

Cargo

diffs cif

NWE per

tonne

E>

0.1 GO

Cargo

diffs cif

Med per

tonne

D>

50ppm

barge

diffs fob

ARA per

tonne

D-ARA>

Diesel

Trades Bids

Offers Previous Seller Buyer

Session

Diesel

Sept

Sept

Van

Hartree barge

-$1.75-

-$1.75

Raak, , diffs fob $2 (5

Glenco Relianc ARA

barges)

re,

e, Per tonne

PTT

Shell (LON: RDSa ),

BP (LON: BP ) -ARA>

Diesel

Sept

Mabana Total cargo

+$6 (Le

ft

diffs cif

Havre)

NWE

Per tonne

YD-NWE>

Diesel

Med

cargo

+$1.25

diffs cif

(Lave

Med

ra)

per tonne

ED>

Jet fuel

Trades Bids

Offers Previous Sell

Buy

Session

Jet fuel

Sept +

KLM,

Shell, barge

$37.50-

Total Unipec diffs fob $38

FARAG

per tonne

A>

Jet fuel

Sept

Sept

cargo

+$39

+$44

cif NWE

(Rotter (Rotte

per tonne

dam)

rdam)

E>

Fuel Oil

Trades

Previous Sell

Buy

Session

3.5 pct

$292-$2

$278-$279 Vitol Mercuri barge

97

a fob ARA per (28KT)

tonne

HFO-ARA

ICE (NYSE: ICE ) Low Sulphur Gasoil LGOc1 Diesel crack

LGOc1-LCOc1 Diesel spread

LGOc1-LGOc2

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100

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