Diesel cracks edge up, BP Rotterdam to restart

Northwest European diesel barge profit margins edged higher to $40.50 a barrel on Friday, despite reports that the BP Rotterdam refinery is set to restart gradually, as stock levels remained low.

• Parts of the BP Rotterdam refinery are expected to restart ahead of Wednesday, a union spokesperson said on Friday.

• The plant has been largely idled this month because of a dispute over wages.

• But support came after ARA gasoil stocks slipped by nearly 3% to 1.72 million tonnes in the week to Thursday, data from Dutch consultancy Insights Global showed.

• U.S. distillate stockpiles, which include diesel and heating oil, rose last week by 3.5 million barrels, ahead of a forecast 1.5 million-barrel rise, EIA data showed.

• Europe imported in November a record 7.6 million tonnes of diesel ahead of a Feb. 2023 ban on Russian diesel imports and amid low regional stocks, Refinitiv analysts said.

• Yet, half of the imports in November came from Russia, the data showed.