News: Europe Distillates-Diesel margins ease as U.S. inventories rise

LONDON, March 20 (Reuters) - Northwest European diesel barge cracks fell to about $26.20 a barrel on Wednesday, extending losses from the previous session, after U.S. weekly inventories rose.

• Around 12,600 metric tons of diesel barges traded in the Platts window, slightly above the previous session's levels. BP and Shell sold to Glencore, Vitol and TotalEnergies.

• U.S. distillate inventories USOILD=ECI , which include diesel and heating oil, rose by 624,000 barrels to 118.5 million barrels last week, versus expectations in a Reuters poll for an 87,000 drop, Energy Information Administration data showed.
• Diesel imports into Europe are set to reach 840,000 barrels per day (bpd) this month, Kpler data showed, up from 633,000 bpd in February.
• An LR2 tanker carrying diesel is making its way to Europe from southern China, LSEG analyst Raj Rajendran said, the first such voyage along the route in over a year.
• Russian Energy Minister Nikolai Shulginov said on Wednesday that the government and companies are in discussions about changes to the maintenance schedules at oil refineries in light of shutdowns at some sites, TASS news agency reported.
• Russian oil refining capacity shut down in the wake of Ukrainian drone attacks in the first quarter amounts to about 4.6 million tons (370,500 bpd), or some 7% of the total, Reuters calculations show, on top of maintenance related to other causes.
• BP BP.L plans to reduce the crude processing capacity of its Gelsenkirchen oil refinery in Germany by around one third from 2025 due to a weaker demand outlook, its head of refining Amber Russell said on Wednesday.

				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 NWE 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   April				  April	 BP,	 Glencor 
 diffs fob ARA  +$3-$4				 +$3.50-$  shell   e, 

 per tonne	  .50					4 (11KT)		  Vitol, 
 
 A>			 KT)									  ergies 
 Diesel cargo		   April							 
 diffs cif NWE		  +$14							   per tonne												 													  Diesel cargo				  April					   diffs cif Med				 +$13						per tonne												
  DL-CIFD-MED																										Jet fuel	   Trades  Bids   Offers  Previous  Seller  Buyer 
									   Session			
 Jet fuel					  FBH						
 barge						 +$2						 diffs fob												 FARAG													 per tonne												
  JET-BD-ARA											   Jet fuel			   CCM								cargo				  flat							   cif NWE per											   tonne													
  JET-CD-NWE											  
 Fuel Oil	 Trades	 Bids	Offers  Previous  Seller  Buyer 
										 Session			
 0.5% barge   $579-$581				  $590-591  Shell,  OEI, 
 fob ARA per									   Glenco  BP, 
 tonne											 re	  Unite 
														   d 
														   Bunke 
														   ring 
 3.5% barge   $463					   $473-$47  Mercur  Gunvo 

 fob ARA per							 5		 ia,	 r, 
 tonne											 Gunvor  BP, 
  HFO-ARA												  Unite 
														   dBunk 
														   ering 
 ICE Low Sulphur Gasoil   LGOc1		   Previous 

 Diesel ARA Barge		$26.24		   $27.80 
 Cracks vs Brent						   
 futures (per barrel)					   Diesel spread			LGOc1-LGOc2