Europe Distillates-Diesel profit margins firm

By Reuters News

- Northwest European diesel refining margins rose over 4% on Friday on a tight market outlook.

  • Low-sulphur gasoil futures traded at a premium of $69.29 a barrel to Brent crude futures by 1645 GMT, up about $3 from the previous close

  • The International Energy Agency's member countries will release around 71 million barrels of emergency oil and products stocks through end-February 2027, roughly doubling the pace of the releases in September and October, the agency said on Friday

  • Included in the release will be around 15 million barrels of diesel, which are scheduled to be released by end-February, almost entirely from government stocks in France and Germany, at a pace of 4 million to 5 million barrels in January before easing in February, the IEA said in a monthly report

  • Gasoil stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub were little changed, edging up 0.2% from the previous week to 1.79 million tons, while standing nearly 22% lower year-on-year, data from Dutch consultancy Insights Global showed on Thursday

  • US distillate stockpiles USOILD=ECI, which include diesel and heating oil, rose by 4.1 million barrels last week to 103.3 million barrels, versus expectations in a Reuters poll for a 1 million-barrel drop, the Energy Information Administration said EIA/S


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0.1 GO Barge

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Dec -$11

0.1 GO Cargo

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50ppm barge diffs fob ARA per ton

Diesel

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Dec +$42

Dec +$60

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Jet fuel

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Fuel Oil

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0.5% barge fob ARA per ton

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ICE Low Sulphur Gasoil

Previous Close

ICE Low Sulphur Gasoil futures vs Brent futures (per barrel)

$69.29

$66.26

Diesel spread

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