LONDON, Oct 22 (Reuters) – Diesel barge premiums in northwest Europe rose on Monday, supported by a tightening supply outlook due to refinery outages in central and northern parts of the continent. A bottleneck at a major oil pipeline has led to the stoppages at refineries in Germany and the Czech Republic, while further north, traders said that maintenance at Scotland’s Grangemouth refinery may have been extended to last until at least late November. Diesel premiums were at a one-week high of around $44 a tonne, while gasoil premiums were steady in a quiet session. Jet fuel barges did not trade in the window, but traders said swaps were stronger during the day and Morocco’s tender for two cargoes for November loading had been awarded at unexpectly high differentials. Morocco’s sole oil refiner Samir started commercial use of two new units in the summer, including a new jet fuel unit, that have boosted the firm’s processing capacity. Traders said that Vitol and Total had been awarded the November cargoes at CCM minus $3 a tonne, a higher than expected price that reflected tighteness in the west Mediterranean market. GASOIL * Three gasoil barges traded at $11-$12 a tonne fob ARA over November ICE gasoil futures, at the lower end of Friday’s $12/$14 a tonne range. * Morgan Stanley bought two barges from Gunvor, while North Sea Group bought a barge from BP. * Vitol bought a cargo from Glencore in the Mediterranean at a discount to mean regional quotes of $2 a tonne. * No 50 ppm gasoil barges traded. The bid/offer spread was at $38/$42 a tonne fob ARA premiums to November ICE gasoil futures, up from $32.50/$40 a tonne on Friday. * November ICE gasoil futures were down 1.83 percent at $978.25 a tonne at 1606 GMT. * The ICE gasoil crack LGO-LCO1=R was trading at $19.51 a barrel around the same time, around $2 a barrel below the previous close. * The backwardation for November/December LGO-1=R was at a $14.75 a tonne around the same time, in from $16.25 a tonne late on Friday. DIESEL ULSD10-BD-ARA * Five barges of intermediate and winter-quality diesel traded at $43-$45 a tonne fob ARA over November ICE gasoil futures, up from Friday’s $38-$41 a tonne fob ARA trades. * Morgan Stanley was the only buyer, picking up four barges from AIC and one from Shell. * Shell sold a cargo to Total at $37 a tonne cif NWE over November futures, while no cargoes traded in the Mediterranean. JET FUEL JET-BD-ARA * No barges traded. BP offered at $74-$76 a tonne over November ICE futures, while Shell bid at CCM plus $3. * Jet fuel barges last traded at $81 a tonne over November ICE gasoil futures on Friday. FUEL OIL * Barges of low-sulphur fuel oil (LSFO) with 1 percent sulphur content traded at $637.50-$638 a tonne fob ARA, down from $640-$645 a tonne fob ARA on Friday. * Barges of high-sulphur fuel oil (HSFO) with 3.5 percent sulphur content traded at $605.75-$607.50 a tonne fob ARA, down from $611-$612.50 a tonne fob ARA on Friday.
(Reporting by Jessica Donati; editing by William Hardy)
.
