BELARUS NEWS AND ANALYSIS
DATE:
17/01/2011
Europe Distillates-Diesel prices up on Belarus export problems
LONDON Jan 17 (Reuters) - European diesel cargo differentials were quoted at 28-month highs on Monday, traders said, citing problems with Belarus exports.
Russian oil deliveries to Belarus stopped on Jan. 1 while price negotiations continued, and industry sources said last week no crude had reach refineries since early January. [ID:nLDE70D11W]
Typically, Europe receives around 200,000 tonnes of diesel from Belarus each month, two traders told Reuters. [ID:nWLA2967]
On the continent, traders focused on continued disruption on the Rhine, which is expected to remained closed until the weekend due to a capsized tanker. [ID:nLDE70G1EY]
A spokesman for the German inland navigation authority said that high water levels were delaying the transport of salvage cranes to the scene.
GASOIL
* February's ICE gasoil future contract LGOc1 fell by $0.50 to $810.50 a tonne by 1737 GMT.
* ICE gasoil cracks LGO-LC01=R traded at around $11.79 a barrel, from Friday's close at $11.01.
* The contango for February/March LGO-1=R was at $4.25 a tonne by the same time.
* Nine gasoil barges traded in the window at discounts of around $5-$7 a tonne fob ARA.
* A broker said Morgan Stanley sold seven cargoes and Hetco sold the other two, with Mercuria buying four barges, Glencore three and Statoil the remaining two.
DIESEL
* Around 23 diesel barges traded at premiums of around $28-$30 a tonne fob ARA, according to a broker, with Mabanaft selling more than half of the total.
JET FUEL
* Jet fuel barges traded at premiums of $74 a tonne over ICE futures, unchanged from Friday's levels.
FUEL OIL
* Barges of high-sulphur fuel oil (HSFO) with 3.5 percent sulphur traded at $505-$506 a tonne fob ARA on Thursday, from $505-$510 a tonne on Friday.
* Barges of low-sulphur fuel oil (LSFO) were talked at $514-$517 a tonne, compared with Friday's $517-$518 a tonne.
(Reporting by Zaida Espana; editing by Jane Baird)
Source:
http://af.reuters.com/article/energyOilNews/idAFLDE70G20U20110117
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