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Europe Gasoil at Two-Year High; Koch Buys Naphtha: Oil Products

Gasoil advanced to the highest price in more than two years on London’s ICE Futures Europe exchange. The fuel’s crack, or premium to Brent crude, widened.

Koch Industries Inc. bought a cargo of naphtha from Glencore International AG. Vitol Group bought jet-fuel barges from Morgan Stanley for a second day.

Light Products

Koch purchased a 12,500-ton cargo of naphtha at $835 a metric ton, priced for delivery to Rotterdam from Dec. 18 to Dec. 22, according to a survey of traders and brokers monitoring the Platts pricing window which ends at 4:30 p.m. in London. Naphtha is used in gasoline and petrochemical production.

Gasoline barges for immediate loading in Amsterdam-Rotterdam-Antwerp, Europe’s oil-trading hub, traded from $826 to $832 a ton, according to a Bloomberg survey of traders and brokers monitoring the Argus Bulletin Board and Platts. That’s below yesterday’s trading range from $833 to $843.

The trades are for Eurobob grade to which ethanol is added to make finished motor fuel.

Premium unleaded gasoline changed hands from $839 to $851 a ton, according to the survey of Platts. That compares with deals yesterday from $841 to $848.

Middle Distillates

Gasoil for January delivery advanced for a fifth day to $771.75 a ton as of 4:34 p.m. London time on the ICE exchange. That’s the highest price since Oct. 9, 2008. Gasoil for December was at $764.50 a ton.

The January gasoil crack, or premium to Brent crude, widened for a fourth day to $12.28 a barrel from $12.11 a barrel yesterday. Brent for January settlement traded at $91.26 a barrel on the ICE exchange after rising as much as 1.5 percent to $92.86.

Gasoil barges traded at discounts of $4.50 to $5.25 a ton to December ICE gasoil, the Platts survey showed. That compares with trades yesterday at $5.50 to $6.50 below the gasoil contract.

Ultra-low-sulfur diesel barges traded at premiums of $24 and $26 a ton to December ICE gasoil, according to the Platts survey. That’s in line with yesterday’s trades.

Vitol bought 4,000 tons of jet fuel in two separate deals at a premium of $63 a ton to December ICE gasoil, the survey showed. That’s in line with yesterday’s trade.


High-sulfur fuel oil’s discount to Brent fell for a fifth day to $17.10 a barrel, the lowest level since Jan. 5 last year. High-sulfur fuel oil is used as a shipping fuel and in power generation in some countries.

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