LONDON, April 10 (Reuters) - Northwest European diesel barge margins fell by 91 cents to $22.14 a barrel on Wednesday, amid a rise in stocks on both sides of the Atlantic.
- There were no ultra-low sulphur diesel barge trades in the Platts window on Wednesday, a source said, after about 10,800 metric tons traded on Tuesday.
- Fuel and crude stocks held by European refiners stood at 1.015 billion barrels in March, up 3.4% on the month and 1.3% higher on the year, Euroilstock data showed on Wednesday.
- The rise was driven mainly by higher middle distillate stocks. Middle distillate inventories stood at 396 million barrels in March, up 4.8% on the month and around 3.9% above March 2023 levels, the data showed.
- "The influx of U.S. and East of Suez arbitrage arrivals into Europe has contributed to a surge in ARA diesel stocks," said James Noel-Beswick, analyst at Sparta Commodities.
- In the U.S., distillate fuel stocks USOILD=ECI , which include diesel and heating oil, rose by 1.7 million barrels in the week to 117.7 million barrels, data from the Energy Information Administration (EIA) showed, versus expectations for a 1.2 million-barrel drop.
- In Russia, companies have been instructed to maximise gasoline and diesel supply to the domestic market, after a meeting between Russian Deputy Prime Minister Alexander Novak and the heads of local oil companies on Wednesday.
Trades Bids Offers Previous Seller Buyer Session 0.1 GO Barge Aprildiffs fob ARA -$29.0 per tonne 0
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 May diffs fob ARA +$2.0 per tonne 0
Diesel Trades Bids Offers Previous Seller Buyer Session Diesel barge April April Aprdiffs fob ARA Flat -$1/+2 -$0.25-+
per tonne .00 $1A>
Diesel cargo CIF UK May Litasc Glenco diffs cif NWE +$4 +$20.2 o re per tonne 5
Diesel cargo Med Med diffs cif Med +$6.0 +$0.75 per tonne 0 DL-CIFD-MED Jet fuel Trades Bids Offers Previous Seller Buyer
Session Jet fuel FBH +$4 Totsa Glenco barge rediffs fob FARAG per tonne
JET-BD-ARA Jet fuel CCM CCM cargo -$4 -+2 cif NWE per tonne
JET-CD-NWE
Fuel Oil Trades Bids Offers Previous Seller Buyer Session 0.5% barge $596-597 $601 Totsa Shell fob ARA per , OEItonne 3.5% barge $466-467 $474-$47 Gunvor Unite
fob ARA per 4.25 , d, tonne Vitol, BP,HFO-ARA Totsa Penin
sula, Gunvo r ICE Low Sulphur Gasoil LGOc1 PreviousDiesel ARA Barge $22.14 $23.05 Cracks vs Brentfutures (per barrel) Diesel spread LGOc1-LGOc2
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