UPDATE 1-Europe Distillates-Diesel cracks fall, shrugging off outages

  • Reuters
  • Commodities News
UPDATE 1-Europe Distillates-Diesel cracks fall, shrugging off outages

(Adds 50ppm trade)

LONDON, May 21 (Reuters) - Benchmark diesel refining margins in northwest Europe fell over 5% on Tuesday to $14.1149 a barrel amid a bullish crude oil market LCOc1 BFO-FOT , shrugging off refining outages across the region.

* Total TOTF.PA said on Tuesday it had curbed output at its German refinery at Leuna due to continuing problems with contaminated Russian crude oil supply, while Germany's oil industry's lobby said national supply security was not at risk. Russian oil producer Lukoil LKOH.MM has stepped up its oil quality controls even though its refineries are not connected to the Druzhba pipeline, vice president Rustem Gimaletdinov said. Hungarian refining company MOL MOLB.BU said it will start taking clean Russian oil later this week via a major pipeline after agreeing to store 100,000 tonnes of contaminated crude. European refineries produced 3.6 percent more gasoline and 7.4 percent more naphtha in April compared with a year ago, data from Euroilstock showed. Output of all refined products rose versus March and year-on-year as crude intake increased by 2.4 percent versus March and 1.5 percent versus April 2018. A string of European refinery outages after contamination forced the shutdown of Russia's Druzhba crude pipeline have constrained fuel supply across the continent and delivered an unexpected boost to profit margins. Gasoil

Trades Bids

Offers Prv

Seller Buyer

Session

0.1 GO Barge -

-

-

-

-

- diffs fob

ARA

per tonne

GO-ED-ARA

0.1 GO Cargo -

-

-

-

-

- diffs cif

NWE

per tonne

GO-CND-NWE

0.1 GO Cargo -

-

-

-

-

- diffs cif

Med

per tonne

GO-CND-MED

50ppm barge June

-

-

June -$8 Belgom Total diffs fob

-$6

ine

ARA

per tonne

ARA>

Diesel

Trades Bids

Offers Prv

Seller Buyer

Session

Diesel barge June

-

-

June

Total, Mabana diffs fob

flat

flat to Vitol, ft, BP (LON: BP ) ARA

to

+$0.75

Chevro

Per tonne

+$0.75

n,

Unipec

RA>

Diesel cargo June

-

-

-

Vitol BP diffs cif

+$4

NWE

(Amste

Per tonne

rdam)

-NWE>

Diesel cargo Med

July

June

Petroi Vitol diffs cif

+$0.5 +$3

+$6

neos

Med

(Koper (Aliag (Venice

per tonne

)

a)

), +$5

(Mersin

>

)

Jet fuel

Trades Bids

Offers Prv

Sell

Buy

Session

Jet fuel

-

CCM

CCM +$5 -

-

- barge

+$2

diffs fob

and

FARAG

-$2

Per tonne

JET-BD-ARA

Jet fuel

-

CCM

June

-

-

- cargo

-$5 to +$35 to

cif NWE

-$0.5( +$38

per tonne

Rotter (Le

JET-CD-NWE

dam)

Havre),

June

+$34 to

+$38

(Rotter

dam)

Fuel Oil

Trades

3.5pct barge $396-$3

$402-$4 Gunvor BP fob ARA

99.5

04

per tonne

(24 KT)

(10kt)

HFO-ARA

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

LGOc1-LCOc1 Diesel spread

LGOc1-LGOc2

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