LONDON, July 12 (Reuters) - Diesel premiums in northwest
Europe held on Friday with traders indicating strong demand in
the region as imported volumes are absorbed into the market.
Around 900,000 tonnes of diesel are scheduled to arrive from
Russia in July and another 1.4 million tonnes from the United
States. Around 300,000 tonnes scheduled to arrive from India
will not reach Europe due to strong demand in Asia, traders
'Volumes are coming but stocks continue to be drawn at ARA,'
a trader said.
Traders expected a week-long strike at several key German
canals to end by early next week, easing concerns of trade
In the jet market, demand in northwest Europe remained weak
while the Mediterranean market was seen tighter.
Moroccan refiner Samir issued a tender to sell a cargo of
jet fuel for Aug. 4-6 delivery. The tender closes on July 17.
Traders continued to monitor the impact of the European
Union's decision to impose a 4.7 percent duty on jet fuel
imports from the Middle East and India.
* No barges of 0.1 percent gasoil traded for a third day.
Bids were heard at $1 a tonne fob ARA below the ICE August
gasoil futures and offers at premiums of $2 a tonne, identical
* No barges of 50 ppm gasoil traded. Offers were heard at
$16 a tonne over August futures, similar to the previous
session. No bids were made.
* August ICE gasoil futures were up 0.66 percent at
$915.50 a tonne at 1615 GMT.
* The ICE gasoil crack was at $14.32 a barrel,
slightly higher than the previous afternoon.
* The contango for the August/September contracts
narrowed 25 cents to minus 25 cents a tonne.
* Four diesel barges traded at $16-$17 a tonne fob ARA over
August ICE gasoil futures, compared with $17-$18 a tonne on
Thursday. BP and Vitol sold to Shell and Morgan Stanley.
* In the northwest, Shell bought one cargo from Litasco.
* In the Mediterranean, Vitol sold to ERG one cargo of
French spec diesel at $23 a tonne cif FOS above the August
gasoil futures. ERG sold one cargo to Trafigura.
* No barges traded. BP bid at $63-$64 a tonnes fob ARA over
August ICE gasoil futures.
* No cargoes traded.
* Barges of low sulphur fuel oil (LSFO), with 1 percent
sulphur content, were traded at $601 a tonne fob ARA.
* High sulphur fuel oil (HSFO) barges, with 3.5 percent
sulphur content traded at $599-$601.50 a tonne fob ARA, a wider
range from Thursday's $599-$600 a tonne.
(Reporting by Ron Bousso; Editing by David Evans)
((Ron Bousso)(email: firstname.lastname@example.org)(Tel.:
+44)(0)(207 542 2161)(Reuters Messaging:
Keywords: MARKETS EUROPE/DISTILLATES
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