LONDON: Diesel barge differentials firmed slightly in Europe on Tuesday as refinery maintenance and lower import cut into availability.
Refineries in Europe are in seasonal maintenance shutdowns, which has limited the amount of product on offer. Closed spot arbitrage from the United States further hindered offers.
Demand was still relatively solid, particularly as inland users restocked following low water levels on the Rhine that hindered deliveries.
German consumer heating oil stocks rose to 62 percent of tank capacity at the start of October, the third consecutive month of increase, according to data from a trade industry source, and just over the five-year average of 61 percent.
India's fuel demand fell 0.7 percent year-on-year in September, with diesel down 11.4 percent and gasoline down 3.4 percent. * Registered fuel sales in Poland have risen 14 percent since the introduction of new legislation on Aug. 1 to curb black market sales.
Two firefighters were killed in an explosion at two German chemicals plants owned by BASF. The resulting blaze took firefighters 10 hours to extinguish and forced BASF to shut down more than 20 facilities, including its two steam crackers which produce the basic hydrocarbon chemicals.
GASOIL
Gunvor sold to AOT a barge of gasoil with a 0.1 percent sulphur content at a $7 a tonne fob ARA discount to the November ICE Low Sulphur Gasoil futures, compared with discounts of $8 and $9 a tonne on Monday.
Glencore sold to Total a barge of 50ppm gasoil at $5 a tonne fob ARA below the November diesel futures, compared with discounts of $4.50-$5 a tonne on Monday.
November Low-Sulphur Gasoil futures were trading $2.50 a tonne higher at $461 a tonne at 1551 GMT.
The November contract traded at a discount of $2 a tonne to the December contract, unchanged.
Benchmark diesel refining margins were at $10.62 a barrel, up slightly. DIESEL
Gunvor sold to FST a barge of 10 ppm diesel at a discount of $4.75 a tonne fob ARA to the November diesel futures, compared with discounts of $3.75-$4 a tonne on Monday.
No diesel cargoes traded. JET FUEL * Jet fuel barges traded at a $20 a tonne fob ARA premium to November diesel. KLM sold to Shell.
No cargoes traded FUEL OIL * Barges of 3.5 percent sulphur content fuel oil traded at $259.50-$261.75 a tonne fob ARA, compared with $256.75-$258 a tonne on Monday.
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