London, Oct 3: Northwest European oil products were generally firmer on Friday as run cuts ate into supplies and futures prices firmed slightly.Gasoline edged higher on a mix of higher futures and paper trade combined with strong buying interest from a major refiner, dealers said. Benchmark Eurograde barges traded at $240, $241.50 and $242 fob a tonne (twice) for Rotterdam refinery barrels, first-half October lifting.Cargoes were quiet, though NYMEX mogas futures gains early were thought encouraging. High sulphur fuel oil barges traded at $123 and then three times at $124 fob AR, and were last around the $124 level, up about $1 from late on Thursday.
Cracked high sulphur cargoes were offered at around $2 above cif high quotes while Russian M100 straight-run was asking a premium of $8/9.
Cracked low sulphur was also firm with one bid heard as high as $125 fob NWE. Gas oil premiums were steady to firmer in quiet trade as an industry function in Stuttgart kept many traders away from their desks.
On thecargo market, a Swiss trader reportedly sold a diesel flexi to a French major for October 1-10 delivery at October IPE +$11, slightly firmer than Thursday. On the heating oil cargo market, German DIN barrels were assessed at October IPE +75 cents bid and +$2 offered on an oversupply of Russian 0.2.
On the barge market, differentials were little changed. A first-half October Rotterdam refinery heating oil barge traded at $1 over October, while diesel was offered at October IPE +$6.50. Traders said the NWE market would be unaffected by the entry into effect on Friday of a Russian tariff of 10 euros per tonne on gas oil exports, 12 euros on fuel oil and 20 euros for gasoline as the rises had been well flagged in advance and were already factored into the numbers.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.