News: Europe Distillates-Diesel margins fall further despite US stock drop

LONDON, April 17 (Reuters) - Northwest European diesel barge margins fell by 85 cents to $19.14 on Wednesday, even as data from the Energy Information Administration (EIA) showed a sharper-than-expected drop in U.S. distillate stockpiles.

• A total of 12,600 metric tons of Northwest European diesel barges traded in the Platts afternoon window, with Unipec and Shell selling to Vitol, BP, and Hartree.
• 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.
• High imports could be pressuring European diesel crack spreads.
• "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.
• Diesel imports into Europe are set to reach 6.04 million metric tons in April, the highest since July 2023 and up sharply from March's 4.79 million tons, data from LSEG analyst Raj Rajendran 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 May diffs cif Med +$8 per tonne

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

										Session			
 Diesel barge   -$3.92				  May	   Unipec  Hartre 
 diffs fob ARA  (12.60				  -$1-$1.5  ,	   e, 
 per tonne	  KT)					 0		 Shell   Vitol, 
 
 A>														 Diesel cargo   May							   Litasc  Glenco 
 diffs cif NW   +$14.50						   o	   re 
 E			  CIF										
 per tonne	  Immingh									 													   Diesel cargo				   May						 diffs cif Med				  +$6						 per tonne												 
  DL-CIFD-MED																										  Jet fuel	   Trades   Bids   Offers  Previous  Seller  Buyer 
										Session			
 Jet fuel	   FBH -$2						   Total   BP 
 barge													 
 diffs fob												  FARAG													  per tonne												 
  JET-BD-ARA												Jet fuel				CCM	CCM						 cargo				   -$2	+$5						 cif NEW per												tonne													 
  JET-CD-NWE											   
 Fuel Oil	 Trades	 Bids	Offers  Previous  Seller  Buyer 
										 Session			
 0.5% barge							  $609-$61		   
 fob ARA per							 1				   tonne													   3.5% barge							  $483-485			fob ARA per												 tonne													  
  HFO-ARA													ICE Low Sulphur Gasoil   LGOc1		   Previous 
 Diesel ARA Barge		$19.14		   $19.99 
 Cracks vs Brent						   
 futures (per barrel)					   Diesel spread			LGOc1-LGOc2