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Europe Distillates-Cracks flat after lower than expected fall in U.S. stocks

Wed, 10th Apr 2019 17:26

LONDON, April 10 (Reuters) - Diesel refining margins in northwestern Europe were little changed on Wednesday after a smaller than expected fall in U.S. stocks.

* U.S. distillate stockpiles, which include diesel and heating oil, fell by 116,000 barrels last week, Energy Information Administration data showed on Wednesday. This compares with expectations for a drop of 1.3 million barrels in a Reuters poll of analysts.

* Royal Dutch Shell has yet to shut down any units at its Pernis oil refinery in the Netherlands despite workers going on strike from Monday, a Shell spokeswoman said on Wednesday.

* The Dutch FNV union said the strike action over pay would gradually reduce production at the plant to 65 percent of capacity.

* "They won't be able to get to the 65 percent unless they do shut it down, but we are not at that point yet," the Shell spokeswoman said.

* The Very Large Crude Carrier (VLCC) Pacific M has arrived at Rotterdam, Refinitiv ship-tracking data showed.

* The tanker is most likely carrying a diesel cargo and chartered by BP, traders said.

 Gasoil        Trades  Bids    Offers   Prv       Seller  Buyer
                                        Session
 0.1 GO Barge          April
 diffs fob             -$7
 ARA
per tonne <GO-ED-ARA> 0.1 GO Cargo - - - - - diffs cif NWE per tonne <GO-CND-NWE> 0.1 GO Cargo - - - - diffs cif Med per tonne <GO-CND-MED>
 50ppm barge                   May
 diffs fob                     -$1.50
 ARA
per tonne <GO50PPM-ED- ARA>
 Diesel        Trades  Bids    Offers   Prv       Seller  Buyer
                                        Session
 Diesel barge  April   -       -        April     BP      Vitol,
 diffs fob     flat                     -$0.25            Shell,
 ARA           (24.05                   to April          Mercur
 Per tonne     KT)                      +$1               ia,
 <ULSD10-BD-A                           (20.75KT          Litasc
 RA>                                    )                 o
 Diesel cargo          April
 diffs cif             +$6.25
 NWE                   (Amste
 Per tonne             rdam)
 <ULSD10-ANYD
-NWE>
 Diesel cargo          April            One cif
 diffs cif             -$8              Lavera
 Med                   (Alexa           cargo at
 per tonne             ndria)           Med
 <DL-CIFD-MED                           -$1.50
 >

Jet fuel Trades Bids Offers Prv Sell Buy

                                        Session
 Jet fuel      FBH     -       -                  Total   Shell
 barge         -$1
 diffs fob
FARAG Per tonne <JET-BD-ARA>
 Jet fuel      CCM                                Unipec  BP
 cargo         -$3.50
 cif NWE
per tonne <JET-CD-NWE>

Fuel Oil Trades Bids Offers Prv Sell Buy

                                        Session

3.5pct barge $409.25 - - $407.75 fob ARA -$410.7 -$408 per tonne 5 (26KT) HFO-ARA (66KT)

ICE Low Sulphur Gasoil

 Diesel crack            <LGOc1-LCOc1>
 Diesel spread           <LGOc1-LGOc2>
(Reporting by Ahmad Ghaddar Editing by David Goodman )

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