News: Europe Distillates-Diesel margins slip as US inventories climb

LONDON, May 22 (Reuters) - Northwest European diesel barge crack spreads slipped by 4% to just above $18 on Wednesday as no barges traded and as U.S. inventories rose unexpectedly.

• No barges traded in the afternoon window, despite a flurry of bid and offer activity.
• U.S. distillate stockpiles USOILD=ECI , which include diesel and heating oil, rose by 379,000 barrels last week to 116.7 million barrels, Energy Information Administration data showed. This compares with expectations in a Reuters poll for a 394,000-barrel drop.
• EU and UK diesel and gasoil imports are on track to reach 1.16 million barrels per day this month, Kpler data showed, broadly steady from April levels.
• "The market is finely poised with spring demand from the agriculture and transportation sectors propping up values in the face of the onslaught of flows from overseas, which is still keeping the forward market in contango," said LSEG analyst Raj Rajendran.
• U.S. oil refiners are expected to have about 122,000 barrels per day (bpd) of capacity offline in the week ending May 24, increasing available refining capacity by 408,000 bpd, research company IIR Energy said on Wednesday.

			   Trades  Bids	Offers  Previous  Seller  Buyer 
									   Session			
 0.1 GO Barge		  June							   

diffs fob -$14 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 June diffs fob -$3 ARA per tonne Diesel Trades Bids Offers Previous Seller Buyer

									   Session			
 Diesel barge		  June	June	June			   

diffs fob -$1.50 flat +$0.50 ARA (9KT) per tonne Diesel cargo June diffs cif +$18 NEW per tonne Diesel cargo June diffs cif +$6 Med per tonne

 >														
														  
 Jet fuel	  Trades  Bids	Offers  Previous  Seller  Buyer 

									   Session			
 Jet fuel					  June					   

barge +$61 diffs fob FARAG per tonne

JET-BD-ARA Jet fuel June CIF NEW cargo +$61 quotes cif NEW per +$0.25 tonne (1

JET-CD-NWE cargo)

Fuel Oil Trades Bids Offers Previous Seller Buyer

									  Session			
 0.5% barge   $534-$5				 $545 (2   Mercur  OEI, 

 fob ARA per  35 (2				   barges)   ia,	 Trafigu 
 tonne		barges)						   Glenco  ra 
												re	   
 3.5% barge   $455-$4				 $459-461  TotalE  BP, OEI 

 fob ARA per  56 (5				   (18	   nergie   
 tonne		barges)				 barges)   s		
  HFO-ARA												

ICE Low Sulphur Gasoil LGOc1 Previous

 Diesel ARA Barge		$18.08		   $18.84 
 Cracks vs Brent						   

futures (per barrel) Diesel spread LGOc1-LGOc2