Europe Distillates-Diesel margins rise

Reuters
2024-12-03
Europe Distillates-Diesel margins rise

LONDON, Dec 2 (Reuters) - Northwest European diesel profit margins rose by nearly $1 a barrel on the day to $18.30, while Russian Black Sea diesel and gasoil exports are expected to rise in December.

  • In the Platts window, Aramco Trading and TotalEnergies sought ULSD cargoes in the Mediterranean, while BP offered a cargo. No trades were concluded due to a mismatch in bid and offer dates. In the Mediterranean high-sulphur gasoil cargo market, Bayegan sought a cargo, while Addax offered one. No trades were concluded.

  • Russian diesel and gasoil exports from the Black Sea port of Tuapse are expected to reach 495,000 tons in December, up from 417,000 tons last month, traders told Reuters.

  • Tuapse fuel oil exports are expected to reach 210,000 tons in December, down from 240,000 tons last month, according to traders.

  • Turkey received 57% of Tuapse's total diesel and gasoil exports in November, down from 86% in October, according to Kpler.

  • EU and UK diesel and gasoil imports rose slightly by 1.25 million barrels per day in November, up from 1.24 million bpd in October, Kpler data showed.

Trades

Bids

Offers

Previous Session

Seller

Buyer

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

Dec + $1

MCM + $1

50ppm barge diffs fob ARA per tonne

GO50PPM-ED-ARA

Diesel

Trades

Bids

Offers

Previous Session

Seller

Buyer

Diesel barge

diffs fob ARA

per tonne

ULSD10-BD-ARA

Diesel cargo

diffs cif NWE

per tonne

ULSD10-ANYD-NWE

Diesel cargo

diffs cif Med

per tonne

DL-CIFD-MED

MCM + $3

MCM + $0.25

Jet fuel

Trades

Bids

Offers

Previous Session

Seller

Buyer

Jet fuel barge

diffs fob FARAG

per tonne

JET-BD-ARA

Jet fuel cargo

cif NWE per tonne

JET-CD-NWE

Fuel Oil

Trades

Bids

Offers

Previous Session

Seller

Buyer

0.5% barge fob ARA per tonne

3.5% barge

fob ARA per tonne HFO-ARA

ICE Low Sulphur Gasoil

LGOc1

Previous

Diesel ARA Barge Cracks vs Brent futures (per barrel)

$18.30

$17.35

Diesel spread

LGOc1-LGOc2

(Reporting by Enes Tunagur; Editing by Tasim Zahid)

((Enes.Tunagur@thomsonreuters.com;))

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