Europe Distillates-Diesel cracks steady, high imports weigh
LONDON, Oct 22 (Reuters) -Northwest European diesel barge profit margins were broadly steady at about $14.86 a barrel on Tuesday as rising imports and soft demand weighed.
Diesel deliveries into Europe are set to reach 6.55 million metric tons in October, compared with 5.65 million tons the previous month, according to LSEG analyst Rakesh Varma.
Imports from the United States are set to drop by nearly a quarter in October from September to 870,000 tons.
Regional diesel prices have been under pressure in recent months due to rising imports, but colder temperatures could support demand and prices in the coming months, Varma said.
Around 2 million tons of jet fuel are set to arrive this month from Asia and the Middle East, compared with 1.72 million tons in September.
Chinese diesel production reached 16.9 million metric tons in September, down 7.9% from the previous year, the country's National Bureau of Statistics showed on Tuesday.
Bank of America said in a note that refining margins globally have eroded since 2022, weighed on by gasoil, diesel and jet profit margins.
The banks said global refining capacity growth of 1.13 mln barrels per day (bpd) in 2024 and 730,000 bpd in 2025 could overwhelm oil demand next year, weighing on margins further.
Trades | Bids | Offers | Previous Session | Seller | Buyer | |
|---|---|---|---|---|---|---|
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 diffs cif Med per tonne GO-CND-MED | ||||||
50ppm barge diffs fob ARA per tonne GO50PPM-ED-ARA | ||||||
Diesel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Diesel barge diffs fob ARA per tonne ULSD10-BD-ARA | ||||||
Diesel cargo diffs cif NWE per tonne ULSD10-ANYD-NWE | ||||||
Diesel cargo diffs cif Med per tonne DL-CIFD-MED | Nov +$12 | |||||
Jet fuel | Trades | Bids | Offers | Previous Session | Seller | Buyer |
Jet fuel barge diffs fob FARAG per tonne JET-BD-ARA | ||||||
Jet fuel cargo cif NWE per tonne JET-CD-NWE |
Fuel Oil | Trades | Bids | Offers | Previous Session | Seller | Buyer |
0.5% barge fob ARA per tonne | $519-$538 | $520 | ||||
3.5% barge fob ARA per tonne HFO-ARA | $488-$500 | $460 |
ICE Low Sulphur Gasoil | LGOc1 | Previous |
Diesel ARA Barge Cracks vs Brent futures (per barrel) | $14.86 | $14.65 |
Diesel spread | LGOc1-LGOc2 |
Reporting by Ahmad Ghaddar; Editing by Tasim Zahid
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
