The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 506.20
Bid: 506.50
Ask: 506.70
Change: 2.10 (0.42%)
Spread: 0.20 (0.039%)
Open: 506.10
High: 511.70
Low: 505.30
Prev. Close: 504.10
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Europe Distillates-Diesel gains on French refinery strikes

Mon, 16th Dec 2013 17:46

By Ron Bousso

LONDON, Dec 16 (Reuters) - Diesel barge differentials innorthwest Europe rose on Monday, supported by uncertainty over astring of refinery strikes in France that threatened to tightensupplies.

Demand nevertheless remained meagre as oil majors offeredlarge volumes throughout the day with little buying interest,according to traders.

"There's no real demand on 10 ppm (particles per million) or50 ppm. It's quiet from end-users but some traders areinterested," one trader said.

Diesel barge and cargo differentials rose by around $1.50during morning trade as five of Total's Frenchrefineries remained shut due to strikes.

Unions at several of the refineries agreed later in the dayto end the strike, but the hardline CGT union did not announceits decision before the end of trading.

A similar picture appeared in the Mediterranean. Refineriesoperating at near-minimum rates have been unable to boost profitmargins as demand was thin, trader said.

Gasoil stocks at the Amsterdam-Rotterdam-Antwerp andFlushing storage hub fell by 2.5 percent to above 2.55 tonnes inthe week ended Dec. 6, data from research company Genscapeshowed.

Traders were assessing the impact of BP's rare tenderissued on Friday to buy 300,000 to 420,000 tonnes of diesel permonth in 2014 in northern Europe.

The tender was for delivery on a cost-insurance-freight(cif) basis and closes at the end of next week, according totraders.

Over the past weeks, Russian producers Rosneft and Lukoilsold diesel for next-year delivery at tenders at premiums oftendescribed by traders as unusually strong.

"BP is a large cif spot diesel buyer. This term tender isunusual and it looks like a move to assess how cif term pricescompare with cif spot because spot prices for next year lookaggressive," one trader said.

GASOIL

* No barges of 0.1 percent gasoil traded, with bid/offerscoming at a strong spread of minus $4 to minus $1 a tonne fobARA below the January ICE gasoil futures.

* Three barges of 50 particles per million (ppm) heating oiltraded at $4 a tonne fob ARA above the January gasoil futures.AST sold to Cargill.

* At 1700 GMT the January ICE gasoil futures contract was up $14.00 at $931.75 a tonne.

* The ICE gasoil crack was at $14.60 a barrel,down 35 cents from Friday.

* The January and February ICE gasoil futures contracts were in a small backwardation of 75 cents a tonne.

DIESEL

* Three barges of diesel traded at $15 a tonne fob ARA abovethe January gasoil futures. Gunvor and Shell sold to TPR.

JET FUEL

* BP sold to Shell the two barges that traded at $69 a tonnefob ARA above the January gasoil futures.

* No cargoes traded. BP bid for three cargoes, while Vitoloffered three, including one at $73 a tonne above Februarygasoil futures.

FUEL OIL

* Barges of low-sulphur fuel oil (LSFO) with 1 percentsulphur content traded at $606-$607 a tonne fob ARA.

* Barges of high-sulphur fuel oil (HSFO) with 3.5 percentsulphur content traded at $579-$581.50 a tonne fob ARA, up from$573-$575 a tonne on Friday.

More News
12 Apr 2024 07:56

UAE's ADNOC said to have recently considered BP takeover

(Sharecast News) - The United Arab Emirates' state-owned oil company recently considered buying BP but the deliberations did not progress beyond preliminary discussions, according to a report.

Read more
11 Apr 2024 14:41

Senegal says oil, gas and mine contracts will be reworked if needed

DAKAR, April 11 (Reuters) - Senegal's new Energy and Mines Minister said on Thursday the government would renegotiate oil, gas and mining contracts if necessary once a promised audit is completed.

Read more
10 Apr 2024 08:41

Johnson Matthey and BP win deal for US sustainable aviation fuel plant

(Alliance News) - Johnson Matthey PLC and BP PLC on Wednesday said their technology offering has been selected for use in a sustainable aviation fuel plant being built in the US state of Louisiana.

Read more
10 Apr 2024 07:47

LONDON BRIEFING: Stocks called up ahead of US inflation data

(Alliance News) - Stocks in London are called to open higher, as investors shake off nerves ahead of a key US inflation reading.

Read more
9 Apr 2024 17:26

Slide in defence stocks knocks down Europe's STOXX 600

BP gains on higher quarterly upstream energy output forecast

*

Read more
9 Apr 2024 17:13

FTSE 100 ends down as defence stocks offset commodity gains

Easter food spending lifts UK retail sales in March

*

Read more
9 Apr 2024 16:53

LONDON MARKET CLOSE: Stocks struggle in nervy trade before US data

(Alliance News) - European equities closed lower on Tuesday, with sentiment downbeat ahead of Wednesday's US inflation reading, though impetus could be found in gold, which hit another record high.

Read more
9 Apr 2024 15:12

London close: Stocks slip ahead of ECB, US inflation print

(Sharecast News) - London markets closed lower on Tuesday, as investors braced for a key US inflation reading as well as a policy announcement from the European Central Bank later in the week.

Read more
9 Apr 2024 12:00

LONDON MARKET MIDDAY: FTSE 100 treads water despite boost from miners

(Alliance News) - Equities in London lacked impetus heading into Tuesday, as investors moved with caution ahead of a US inflation print on Wednesday and the European Central Bank's interest rate decision a day later.

Read more
9 Apr 2024 10:21

PRESS: Shell could make London exit if value gap to US does not close

(Alliance News) - Shell PLC fired a warning shot to that it could be prepared to move its listing to the US in a fresh blow to London's financial centre.

Read more
9 Apr 2024 08:53

TOP NEWS: BP predicts upstream production will rise in first quarter

(Alliance News) - BP PLC on Tuesday said it expects first quarter upstream production to be higher than the previous three month period but cautioned lower prices would hurt performance elsewhere.

Read more
9 Apr 2024 08:44

LONDON MARKET OPEN: Stocks shaky ahead of US CPI data, ECB decision

(Alliance News) - Stock prices in London opened mostly lower on Tuesday, as investors look ahead to a key inflation reading from the US, as well as the latest interest rate decision from the European Central Bank.

Read more
9 Apr 2024 07:51

BP expects rise in first-quarter upstream energy output

April 9 (Reuters) - BP said on Tuesday it expects first-quarter upstream production of both oil and gas as well as low-carbon energy to be higher than the previous three months.

Read more
9 Apr 2024 07:39

LONDON BRIEFING: HSBC sells Argentinian arm for USD550 million

(Alliance News) - Stocks in London are called to open lower on Tuesday, as investors nervously look ahead to US inflation data and the European Central Bank's latest interest rate decision.

Read more
9 Apr 2024 07:24

BP sees higher Q1 upstream production

(Sharecast News) - Oil giant BP said it expected first-quarter upstream production to be higher than the previous three months.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.