Europe Distillates-Diesel margins drop as U.S. fuel prices ease

  • Reuters
  • Commodities News
Europe Distillates-Diesel margins drop as U.S. fuel prices ease
Credit: © Reuters.

LONDON, May 14 (Reuters) - Northwest European diesel refining margins fell by 4% to $6.5 a barrel on Friday as U.S. prices of the motor fuel eased on the resumption of the nation's top fuel pipeline.

* U.S. Colonial Pipeline ramped up deliveries to fuel-starved markets up and down the East Coast on Friday. Gasoil stocks held in an independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by 3% amid strong exports to the United States, said Insights Global's Lars van Wageningen, while demand up the Rhine River also improved to the highest level since November. Fuel oil stocks in ARA dropped by 11% due to strong exports and low imports.

* Jet fuel arriving from East of Suez into Northwest Europe (NWE) is currently down about 11% month-on-month and more than 46% lower compared to this time last year, according to Refinitiv. The slow pace of arrivals reflects the uncertainties surrounding European flying demand this summer.

* At least two tanker owners have asked to divert deliveries of crude oil from Ashkelon to the port of Haifa in Israel because of fighting, shipping sources said on Friday. Bids

Offers Previous Seller Buyer

Session

0.1 GO

Barge

diffs fob

ARA per

tonne

GO-ED-ARA

0.1 GO

Cargo

diffs cif

NWE per

tonne

>

0.1 GO

Cargo

diffs cif

Med per

tonne

>

50ppm barge

diffs fob

ARA per

tonne

-ARA>

Diesel

Trades Bids

Offers Previous Seller Buyer

Session

Diesel

JUN

June -$2 BP (LON: BP )

GLENCO barge

$-2

RE, diffs fob

SHELL ARA

, Per tonne

Finco

ARA>

Diesel

June

June +$3 Gunvor Litasc cargo

$3

(Hamburg

o diffs cif

)

NWE

Per tonne

D-NWE>

Diesel

Jun

Cepsa

Glenco cargo

$2.75

re diffs cif

Med

per tonne

D>

Jet fuel

Trades Bids

Offers Previous Seller Buyer

Session

Jet fuel

JUN

2 barges

barge

$20-$2

diffs fob

1

FARAG

per tonne

>

Jet fuel

JUN

cargo

$22

cif NWE per

(Rotte

tonne

rdam)

>

Fuel Oil

Trades

Bids

Offers Previous Sell

Buy

Session

0.5% barge

fob ARA per

tonne

3.5% barge $363

LITASC PENINS fob ARA per (14kT)

O,

ULA, tonne

Total VITOL, HFO-ARA

MERCUR

IA

ICE (NYSE: ICE ) Low Sulphur Gasoil LGOc1

Diesel ARA Barge

LGOc1-LCOc1

Crack(per barrel)

Diesel spread

LGOc1-LGOc2

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100

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