LONDON: Benchmark diesel refining margins in northwest Europe rose for a third straight session on Thursday following data showing a 4 percent draw in ARA gasoil stocks over the past week.
Gasoil stocks held in the Amsterdam-Rotterdam-Antwerp (ARA) hub fell by 4 percent in the week to Thursday, Dutch consultancy PJK International said.
Russia plans to export 1.209 million tonnes of ultra-low sulphur diesel (ULSD) from the Baltic Sea port of Primorsk in April, down from 1.249 million tonnes in March, trading sources told Reuters. On a daily basis, the volumes are however unchanged month-on-month.
The diesel arbitrage from the US Gulf Coast was shut after the EIA reported a draw in stocks last week.
Still, around 1.4 million tonnes of diesel are expected to arrive in March to Europe and the Mediterranean. * Several new fixtures were booked from Asia and the Middle East to Europe and the Mediterranean. Around 1.5 million tonnes have been booked on the route in March, according to traders.
A leak caused a brief hydrogen release at Shell's 404,000 barrels per day (bpd) Pernis oil refinery in the Netherlands on Thursday, a spokesman said, adding it did not impact operations.
Dutch carrier KLM on Thursday launched the first in a series of 80 flights from Oslo to Amsterdam using a biofuels blend to power an Embraer EMBR3.SA E190 jet, in a boost for the biofuels industry that has been held back by weak oil prices.
For the latest European refinery outages: REF/E
GASOIL
No trades of barges of 0.1 percent sulphur content gasoil were reported.
No barges of 50ppm gasoil traded.
April Low Sulphur Gasoil futures were up $3.25 a tonne at $354.50 a tonne by 1640 GMT.
The April and May contracts were trading in a contango of $3.75 a tonne, 25 cents wider than a day earlier.
Diesel refining margins stood at $8.27 a barrel, up from $7.88 a barrel the previous session.
DIESEL
Thirty diesel barges traded at discounts of $2.50-$3.25 a tonne fob ARA versus April diesel futures, compared with $3 a tonne the previous day.
No cargoes traded.
JET FUEL
Total sold to BP one barge at a premium of $23 a tonne fob ARA to the April diesel futures. No cargoes traded. Vitol offered two cargoes while BP bid for two.
FUEL OIL
Barges with a sulphur content of 3.5 percent traded at $155-$157.75 a tonne fob ARA, compared with $151.25-$156.50 a tonne on Wednesday.
Comments
Comments are closed for this article.