LONDON: Diesel refining margins were stable in northwest Europe, but the Mediterranean pulled in cargoes due to an ongoing force majeure at Hellenic Petroleum's 100,000 barrel per day (bpd) Elefsina refinery in Greece.
* Diesel volumes arriving in Europe were lower from most regions due to strong demand elsewhere, including in Latin America and India.
* Arrivals from the United States were limited to around 1.5 million tonnes in July by Latin American refinery outages, with Brazil, Venezuela and Mexico all pulling in cargoes that could otherwise have come to Europe.
* Bookings from Asia were also limited by strong regional demand, with India, normally an exporter, even pulling in cargoes from Europe.
* Still, the strong Indian demand was waning, analysts JBC said, noting that Indian diesel demand slipped by 120,000 barrels per day (bpd) on the month in June, adding they "expect a further 200,000 bpd m-o-m downside in July in line with seasonal trends."
* Limited supply in the Mediterranean was further tightening the market. The force majeure at Hellenic Petroleum Elefsina refinery led some to book cargoes from ARA into the region.
* Royal Dutch Shell and BP have booked at least two cargoes of diesel to sail from northwest Europe to the Mediterranean in recent days, according to traders and shipping data. GASOIL
* There were no trades of gasoil barges with a 0.1 percent sulphur content. Offers came in at a $9 a tonne fob ARA discount to diesel futures, compared with trades at $12.25-$13 a tonne discounts on Friday.
* No cargoes traded.
* No barges of 50 ppm sulphur gasoil traded.
* August Low Sulphur Gasoil futures were trading $1.25 a tonne lower at $446.50 a tonne at 1538 GMT.
* The August contract was trading at a discount, or contango, of 50 cents to the September contract, unchanged.
* The prompt diesel refining margin was at $11.30 a barrel, flat from Friday.
DIESEL
* Barges traded at discounts of 25 cents to 50 cents versus August diesel futures.
* No cargoes traded.
JET FUEL
* No jet fuel barges or cargoes traded.
* Barges were offered at premiums of $32 a tonne above August diesel futures, but there were no bids.
* Bids for cargoes came in at premiums of $27.50-$28 a tonne above August diesel, but there were no offers.
FUEL OIL
Barges of fuel oil with a sulphur content of 3.5 percent traded at $278.50-$280 a tonne fob ARA, compared with $277.75-$280.50 a tonne on Friday.
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