Europe Distillates-Diesel margins rise 7% after U.S. pipeline outage

  • Reuters
  • Commodities News
Europe Distillates-Diesel margins rise 7% after U.S. pipeline outage
Credit: © Reuters.

LONDON, May 10 (Reuters) - Northwest European diesel refining margins rose by more than 7% on Monday to around $6.5 a barrel after a weekend outage of a major U.S. fuel pipeline.

* The U.S. government and the top fuel pipeline operator worked to secure the network that transports nearly half of the East Coast's fuel supplies, as the group suspected of a ransomware cyberattack that caused it to shutdown said it was just trying to make money. Trafigura has provisionally booked three 90,000 tonne tankers to carry diesel from Rotterdam to the United States since the Colonial pipeline outage, Refinitiv data shows.

* The three vessels are scheduled to depart between May 11-13 but it was unclear if they have been booked, traders said.

* Traders provisionally booked at least six tankers to ship gasoline from Europe to U.S. destinations. 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

May

May

Trafigur Vitol barge

-$0.75

-$1.25

a, Total

diffs fob

ARA

Per tonne

ARA>

Diesel

June

May

cargo

+$4

$5.25

diffs cif

(Amste (Le

NWE

rdam) Havre)

Per tonne

D-NWE>

Diesel

cargo

diffs cif

Med

per tonne

D>

Jet fuel

Trades Bids

Offers Previous Seller

Buyer

Session

Jet fuel

2

May

May +$22

barge

barges

+$22

diffs fob

FARAG

per tonne

>

Jet fuel

June

cargo

May

$23

cif NWE per

$17

(Rotte

tonne

(Le

rdam)

Havre)

>

Fuel Oil

Trades

Bids

Offers Previous Sell

Buy

Session

0.5% barge $474.40

$477.5 $480.75 Vitol BP (LON: BP ) fob ARA per

0

tonne

3.5% barge $366.50

$370

$379.50 Total Vitol fob ARA per

tonne

HFO-ARA

ICE (NYSE: ICE ) Low Sulphur Gasoil LGOc1

Diesel ARA Barge

LGOc1-LCOc1

Crack(per barrel)

Diesel spread

LGOc1-LGOc2

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