News: Europe Distillates-Diesel margins rebound but close week lower

LONDON, April 19 (Reuters) - Northwest European diesel barge margins rose by 74 cents on the day to about $17.33 on Friday, rebounding from their lowest in almost a year in the previous session but closing the week around 16% lower.

• No Northwest European diesel barges changed hands in the afternoon trading window on Friday after one barge had traded on Thursday.
• Diesel demand is stable but low, and supply in Europe is plentiful, a trading source said.
• The front-month diesel futures spread LGOc1-LGoC2 was trading in contango for the third 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.
• 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.

				Trades   Bids   Offers  Previous  Seller  Buyer 
										Session			
 0.1 GO Barge											  

diffs fob ARA per tonne

GO-ED-ARA 0.1 GO Cargo diffs cif NEW per tonne

GO-CND-NWE 0.1 GO Cargo diffs cif Med per tonne

GO-CND-MED 50ppm barge diffs fob ARA per tonne Diesel Trades Bids Offers Previous Seller Buyer

										Session			
 Diesel barge			May	May	 May -$3			
 diffs fob ARA		   -$4.5  -$4						

per tonne 0 Diesel cargo June diffs cif NW +$9.5 E 0 per tonne Diesel cargo Med Med diffs cif Med -$1 +$1.50 per tonne

DL-CIFD-MED Jet fuel Trades Bids Offers Previous Seller Buyer

										Session			
 Jet fuel				FBH			FBH -$2,		   
 barge				   flat		   -$3				
 diffs fob												 

FARAG per tonne

JET-BD-ARA Jet fuel CCM CCM cargo -$5 +$1 cif NEW per tonne

JET-CD-NWE

 Fuel Oil	 Trades	 Bids	Offers  Previous  Seller  Buyer 
										 Session			
 0.5% barge   $588-589				   $587-$59  OEI,	Unite 

 fob ARA per  (5						 1		 Mercur  d, 
 tonne		barges)							  ia,	 North 
												   Glenco  star, 
												   re,	 OEI 
												   Total	
 3.5% barge   $472-473.				  $476-$47  OEI,	Penin 

 fob ARA per  5 (4					   6.5	   Vitol   sula, 
 tonne		barges)									  BP 
  HFO-ARA												   

ICE Low Sulphur Gasoil LGOc1 Previous

 Diesel ARA Barge		$17.33		   $16.59 
 Cracks vs Brent						   

futures (per barrel) Diesel spread LGOc1-LGOc2