Europe Distillates-Diesel cracks steady as U.S. stocks rise sharply

PUBLISHED: Wed, 24 Mar 2021 17:18:57 GMT
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LONDON, March 24 (Reuters) – Northwest European diesel refining margins steadied at about $4.30 a barrel on Wednesday as an unexpected rise in U.S. stocks weighed. * U.S. distillate stockpiles, which include diesel and heating oil, rose by 3.8 million barrels last week, versus expectations in a Reuters poll for a drop of 122,000 barrels, Energy Information Administration data showed. * Dozens of ships carrying everything from oil to consumer goods have been delayed by the grounding of a vessel in the Suez Canal. Companies may have to re-route cargoes around Africa if the blockage extends beyond 24 hours, shipping sources said. Trades Bids Offers Previous Seller Buyer Session 0.1 GO Cargo diffs cif NWE per tonne <GO-CND-N WE> 0.1 GO April Cargo -$5.50 diffs cif Med per tonne <GO-CND-M ED> 50ppm barge diffs fob ARA per tonne <GO50PPM- ED-ARA> Diesel Trades Bids Offers Previous Seller Buyer Session Diesel April Apr Glencore FSTBV, barge -($3-$3 -$3.25-$ RGES, diffs fob .50)12. 3.75 Shell ARA 3KT Per tonne <ULSD10-B D-ARA> Diesel April April cargo +$1.50 +$3 diffs cif NWE Per tonne <ULSD10-A NYD-NWE> Diesel April April cargo +$2.50 +$7 diffs cif Med per tonne <DL-CIFD- MED> Jet fuel Trades Bids Offers Previous Seller Buyer Session Jet fuel April Apr +$17 Shell Gunvor barge +$16.50 diffs fob (3.5KT) FARAG per tonne <JET-BD-A RA> Jet fuel CCM -$1 Unipec Vitol, cargo and CCM BP cif NWE -$2.50 per tonne <JET-CD-N WE> Fuel Oil Trades Bids Offers Previous Sell Buy Session 0.5% barge $451-$45 Trafig Mercur fob ARA per 5 (6KT) ura ia tonne 3.5% barge $355.50- $344-$34 Total Vitol fob ARA per $356.50 6 tonne (14KT) <HFO-ARA> ICE Low Sulphur Gasoil Diesel ARA Barge <LGOc1-LCOc1> Crack(per barrel) Diesel spread <LGOc1-LGOc2> (Reporting by Ahmad Ghaddar Editing by David Goodman )

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