net_left Phương Thức Thanh Toán
Phương Thức Thanh Toán

Analysis-Europe boosts Russian diesel buying ahead of ban set to rock market

By Rowena Edwards, Ron Bousso and Ahmad Ghaddar LONDON (Reuters) - European traders are rushing to fill tanks with Russian diesel as the clock runs down on a Feb. 5 European ban...
Analysis-Europe boosts Russian diesel buying ahead of ban set to rock market © Reuters. Great Wenchao bulk carrier lies at anchor in Nakhodka Bay near the port city of Nakhodka, Russia, December 4, 2022. REUTERS/Tatiana Meel

By Rowena Edwards, Ron Bousso and Ahmad Ghaddar

LONDON (Reuters) - European traders are rushing to fill tanks with Russian diesel as the clock runs down on a Feb. 5 European ban expected to tighten supplies, re-draw global shipping routes and increase price volatility.

The ban is likely to create a diesel supply shortfall which Europe hopes to fill with Chinese fuel, some of which will be produced from Russian crude.

China has raised its first batch of 2023 export quotas for refined oil products by nearly half versus a year ago.

China's diesel exports, likely to make up most of the quotas, could reach 400,000-600,000 bpd in January-June, said Mark Williams, research director of short-term oils at consultancy Wood Mackenzie.

"But without Chinese exports pushing swing barrels westward, Europe is unlikely to replace the 0.5 million bpd loss in Russian diesel exports come the embargo," analysts at Energy Aspects said.

IMPORT RUSH

European diesel imports from Russia stand at 770,000 barrels per day (bpd) so far this month, the highest since March last year, according to energy analytics firm Vortexa.

"European buyers are rushing in to import as much as they can ahead of the ban," said Rohit Rathod, senior oil market analyst at Vortexa.

Russia for years has been the main diesel supplier for Europe, where refineries do not produce enough to meet domestic demand from its large diesel car fleet.

Even as governments and companies sought to sever economic ties with Russia after it invaded Ukraine, Europe last year relied on Russia for nearly half of its imports of diesel, known as middle distillates, according to Refinitiv data.

Graphic: European diesel imports from Russia, https://www.reuters.com/graphics/EUROPE-DIESEL/zdpxdrnwepx/chart.png An EU ban on Russian crude imports which took effect in December will be broadened to include refined fuels from Feb. 5.

It is expected to abruptly change trade flows and will come at a cost.

WoodMac expects diesel margins to crude to average $38/bbl in January-June, more than double the 2018-22 six-month average when compared with Refinitiv Eikon data.

Graphic: European diesel margins to crude, https://www.reuters.com/graphics/EUROPE-DIESEL/zjvqjewlapx/chart.png "The high price of diesel will be maintained due to complex logistics and shipping costs. That complexity, which is consequently reducing market liquidity, is likely to keep refining margins on diesel up in the same way as we have seen in 2022," said Rob Turner, sector leader for Energy and Resources at PwC UK.

Europe can no longer rely on blending Russian middle distillates, on upgrading and desulphurising off-spec Russian grades, or on using diesel-rich Urals crude in the refining system as it did pre-conflict, Turner noted.

Traders have rushed to stock diesel ahead of the ban, with regional inventories rising to their highest since Oct. 2021 in the week to Jan. 12, data from Dutch consultancy Insights Global showed. [ARA/]

Graphic: ARA gasoil stocks, https://www.reuters.com/graphics/EUROPE-DIESEL/znpnbzkgapl/chart.png Stocks are expected to drop after the ban kicks in, Energy Aspects said.

GLOBAL REROUTING

Some of the world's largest tankers with a capacity of 2 million barrels of oil, have been chartered in recent months to import diesel into Europe from Asia and the Middle East.

However, shipping fuel from Russia into northwest Europe typically takes a week while cargoes from the East take up to 8 weeks on average, leading to higher freight costs.

Demand for refined product tankers is set to rise by 7.2% in 2023 compared with the third quarter of 2022 due to the longer shipping routes, according to Matt Wright, senior freight analyst at Kpler.

Longer voyages will increase the demand for vessels for diesel delivery.

"We're in for a bumpy ride for 12 weeks as global trade works its way out," said WoodMac's head of oils research Alan Gelder. "It's going to be much more volatile".

Hot Auto Trade Bot Phương Thức Thanh Toán
BROKERS ĐƯỢC CẤP PHÉP
net_home_top Ai VIF
29-01-2023 22:41:02 (UTC+7)

EUR/USD

1.0869

-0.0020 (-0.18%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (1)

EUR/USD

1.0869

-0.0020 (-0.18%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (1)

GBP/USD

1.2399

-0.0007 (-0.06%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

USD/JPY

129.85

-0.35 (-0.27%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (2)

AUD/USD

0.7108

-0.0006 (-0.08%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (4)

USD/CAD

1.3311

-0.0009 (-0.07%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (2)

Sell (5)

EUR/JPY

141.14

-0.65 (-0.46%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (3)

EUR/CHF

1.0015

-0.0005 (-0.05%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Gold Futures

1,928.00

-2.00 (-0.10%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (8)

Silver Futures

23.725

-0.295 (-1.23%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

Copper Futures

4.2300

-0.0375 (-0.88%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

Crude Oil WTI Futures

79.38

-1.63 (-2.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (4)

Brent Oil Futures

86.40

0.00 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (5)

Natural Gas Futures

2.856

+0.008 (+0.28%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

US Coffee C Futures

169.25

+2.10 (+1.26%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (7)

Euro Stoxx 50

4,178.01

+4.03 (+0.10%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

S&P 500

4,070.56

+10.13 (+0.25%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

DAX

15,150.03

+17.18 (+0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

FTSE 100

7,765.15

+4.04 (+0.05%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Hang Seng

22,688.90

+122.12 (+0.54%)

Summary

Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (2)

Sell (2)

US Small Cap 2000

1,911.46

+8.39 (+0.44%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (6)

IBEX 35

9,060.20

+24.60 (+0.27%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

Bank of America Corp

(%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

BASF SE NA O.N.

52.790

+0.170 (+0.32%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Bayer AG NA

56.28

+0.24 (+0.43%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (3)

Allianz SE VNA O.N.

221.65

+0.05 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Adidas AG

148.30

+3.02 (+2.08%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

Deutsche Lufthansa AG

9.755

+0.028 (+0.29%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (10)

Sell (0)

Siemens AG Class N

144.50

+0.44 (+0.31%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (10)

Sell (1)

 EUR/USD1.0869↑ Buy
 GBP/USD1.2399↑ Buy
 USD/JPY129.85Buy
 AUD/USD0.7108↑ Sell
 USD/CAD1.3311Neutral
 EUR/JPY141.14↑ Buy
 EUR/CHF1.0015↑ Buy
 Gold1,928.00↑ Sell
 Silver23.725↑ Buy
 Copper4.2300↑ Buy
 Crude Oil WTI79.38↑ Sell
 Brent Oil86.40↑ Sell
 Natural Gas2.856↑ Sell
 US Coffee C169.25Sell
 Euro Stoxx 504,178.01↑ Buy
 S&P 5004,070.56↑ Sell
 DAX15,150.03↑ Buy
 FTSE 1007,765.15↑ Buy
 Hang Seng22,688.90Buy
 Small Cap 20001,911.46↑ Sell
 IBEX 359,060.20↑ Buy
 Bank of America↑ Sell
 BASF52.790↑ Buy
 Bayer56.28↑ Buy
 Allianz221.65↑ Buy
 Adidas148.30Sell
 Lufthansa9.755↑ Buy
 Siemens AG144.50↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,720/ 6,820
(6,720/ 6,820) # 1,331
SJC HCM6,720/ 6,820
(-20/ -20) # 1,331
SJC Hanoi6,720/ 6,822
(-20/ -20) # 1,333
SJC Danang6,720/ 6,822
(-20/ -20) # 1,333
SJC Nhatrang6,720/ 6,822
(-20/ -20) # 1,333
SJC Cantho6,720/ 6,822
(-20/ -20) # 1,333
Cập nhật 29-01-2023 22:41:05
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,927.97-2.61-0.13%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V23.01023.470
RON 95-III22.15022.590
E5 RON 92-II21.35021.770
DO 0.05S21.63022.060
DO 0,001S-V23.39023.850
Dầu hỏa 2-K21.80022.230
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.260,0023.630,00
EUR24.857,5526.249,47
GBP28.270,1829.475,66
JPY175,71186,02
KRW16,4320,02
Cập nhật lúc 18:54:06 29/01/2023
Xem bảng tỷ giá hối đoái
Phương Thức Thanh Toán