LONDON- Benchmark diesel refining margins in northwest Europe rose on Wednesday amid a sharp sell-off in crude prices but rising imports from the United States weighed.
* A slew of tankers was booked over the past day to ship diesel from the U.S. Gulf Coast to Europe and the Mediterranean as demand from Latin America weakened in recent weeks and U.S. refineries operate at near record levels, traders said.
* Imports from the United States were expected to reach 1.9 million tonnes in June, significantly higher than in previous months, traders said.
* U.S. distillate stockpiles, which include diesel and heating oil, rose last week by 328,000 barrels, versus expectations for a 686,000 barrels increase, the EIA data showed.
* Algeria's state-run oil company Sonatrach has issued a tender to buy 3 cargoes, or 90,000 tonnes, of gasoil with 0.1 percent sulphur content in July, according to a tender document seen by Reuters.
* Growth in oil supply next year is expected to outpace an anticipated pick-up in demand that will push global consumption above 100 million barrels per day (bpd) for the first time, the International Energy Agency said on Wednesday.
* Fuel oil and bunker fuel stockpiles in the developed world fell to their lowest level in more than two years in April, the International Energy Agency (IEA) said on Wednesday. At 130 million barrels, they were down 3.1 million barrels from March. GASOIL
* Nine barges of 0.1 percent sulphur content traded at a discount of $9 a tonne fob ARA to the July Low Sulphur Gasoil futures. BP sold to Vitol and FMAG.
* Gunvor sold to Total two barges of 50 ppm gasoil traded at discounts of $1 and $1.50 a tonne fob ARA to the July diesel futures.
* No cargo trades were reported.
* July Low Sulphur Gasoil futures were $7 a tonne lower at $419 by 1552 GMT.
* The July contract was trading at a discount of $1.25 a tonne to the August contract, unchanged.
* Benchmark diesel margins stood at $9.48 a barrel, up from $8.66 a barrel at the previous close.
DIESEL
* Five barges traded at discounts of 25 to 50 cents a tonne to July ICE diesel futures, unchanged from a day earlier. Glencore sold to BP, Koch, Litasco, Hartree.
* Glencore sold cargo to BP cif Hamburg at a $4.50 a tonne premium to July diesel futures.
JET FUEL
* Castleton sold a barge to Shell at a premium of $29 a tonne fob ARA to the July diesel futures.
* No cargoes traded.
FUEL OIL
* Barges of fuel oil with a sulphur content of 3.5 percent traded at $265.75-$266.25 fob ARA, down from $273-$273.50 a tonne on Tuesday.
Source: Timesofindia.indiatimes.com
