LONDON: Diesel benchmark refining margins in northwest Europe remained steady on Thursday, holding above $10 a barrel, despite a draw in weekly ARA stocks.
Gasoil stocks stored independently in the Amsterdam-Rotterdam-Antwerp hub, fell by 2.4 percent in the week to Thursday, as Argentina pulled cargoes from the region, according to Dutch consultancy PJK International.
French restocking following a three-week long strike at refineries and terminals was the main source of middle distillate demand, mostly in the western Mediterranean, traders said.
The river Rhine in south Germany has reopened to freight shipping after an overnight fall in water levels, a spokesman for the German inland navigation agency said on Thursday.
Around 1.9 million tonnes of diesel were expected to be imported from Asia and the Middle East to Europe in June and another 1.3 million tonnes from the US Gulf Coast, according to Reuters shipping data and traders.
Greece's Hellenic Petroleum issued a tender to sell a 30,000 tonne 0.1 percent sulphur gasoil cargo loading at Eleusis or Aspropyrgos on 13-15 July. Offers need to be submitted on Friday June 24 from 0900-1000 GMT.
GASOIL
Six barges of 0.1 percent sulphur gasoil traded at $7-$9 a tonne discounts to July diesel futures.
No barges of 50 ppm gasoil traded. * The July Low Sulphur Gasoil futures traded $1.50 higher at $448.50 a tonne at 1544 GMT.
The July contract traded in a contango of $3.25 a tonne to the August contract, 50 cents wider from a day earlier.
The diesel refining margin was virtually unchanged at $10.17 a barrel.
DIESEL
Twenty-four barges traded at discounts of $2.50-$4 a tonne fob ARA to July diesel futures, from discounts of $2.50-$3.25 a tonne in the previous session.
BP bought a cif Lavera cargo from Litasco at a Platts-based price. Vitol bought a cif Hamburg cargo from Glencore at a $1 a tonne premium to the August diesel futures contract.
JET FUEL
KLM sold two barges to Shell at $14 a tonne premium to the July diesel futures contract, unchanged.
No cargoes traded. Shell bid for a cif Rotterdam priced mostly at a $21 a tonne premium to July diesel futures.
FUEL OIL
Barges with a sulphur content of 3.5 percent fuel oil traded at $228-$230 a tonne fob ARA, slightly higher than trade the previous day at $228.75 a tonne.
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