LONDON, April 18 (Reuters) - Northwest European diesel barge margins fell by $2 to about $17.15 on Thursday to their lowest in almost a year, as heavy supplies and sluggish demand weighed.
- A single barge changed hands in the afternoon trading window.
- Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell slightly to 2.12 million tons in the week to Thursday, data from Dutch consultancy Insights Global showed.
- U.S. distillate stockpiles USOILD=ECI , which include diesel and heating oil, fell by 2.8 million barrels to 115 million barrels, versus expectations for a 300,000-barrel drop, weekly EIA data showed.
- High imports and weak local demand are pressuring European diesel crack spreads, traders said.
- The front month diesel futures spread LGOc1-LGoC2 was trading in contango for the second session in a row, indicating market weakness.
- "The market is expected to continue receiving a significant amount of diesel from the Middle East and West Coast of India," said James Noel-Beswick of Sparta Commodities.
- "This influx of supply, coupled with ongoing struggles in European demand and the likelihood of increasing stocks, is contributing to a prevailing bearish sentiment in the market," he added.
- Diesel imports into Europe are set to reach 6.04 million metric tons in April, the highest since July 2023 and up sharply from March's 4.79 million tons, data from LSEG analyst Raj Rajendran showed.
Trades Bids Offers Previous Seller Buyer Session 0.1 GO Bargediffs fob ARA per tonne
GO-ED-ARA 0.1 GO Cargo diffs cif NEW per tonne
GO-CND-NWE 0.1 GO Cargo May diffs cif Med +$5 per tonne
GO-CND-MED 50ppm barge diffs fob ARA per tonne
Diesel Trades Bids Offers Previous Seller Buyer Session Diesel barge May -$3 May Shell GST diffs fob ARA -$3.92per tonne (12.60
Diesel cargo June May May diffs cif NW +$9 +$12.5 +$14.50E 0 CIF per tonne Immingha
Diesel cargo diffs cif Med per tonne DL-CIFD-MED Jet fuel Trades Bids Offers Previous Seller Buyer
Session Jet fuel FBH FBH -$2 TotalE BP, barge -$2, nergie Shell diffs fob -$3 s FARAGper tonne
JET-BD-ARA Jet fuel CCM cargo +$5 cif NEW per tonne
JET-CD-NWE
Fuel Oil Trades Bids Offers Previous Seller Buyer Session 0.5% barge $587-$591 $609-$61 TotalE OEI,fob ARA per 1 nergie Unite tonne s, dBunk Shell ering 3.5% barge $476-$476 $483-485 Gunvor Unitefob ARA per .5 , dBunk tonne Vitol, eringHFO-ARA OEI , Penin sula, BP, Total Energ ies ICE Low Sulphur Gasoil LGOc1 PreviousDiesel ARA Barge $17.15 $19.14 Cracks vs Brentfutures (per barrel) Diesel spread LGOc1-LGOc2
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- News: Europe Distillates-Diesel margins fall to one-year low on slower demand
News: Europe Distillates-Diesel margins fall to one-year low on slower demand
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