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OIL
Barge rates for shipments of diesel to the Upper Rhine and into Switzerland from the ARA hub are rising amid low Rhine river levels and German refinery maintenance according to Bloomberg.
- Water levels at the Rhine’s key chokepoint of Kaub have fallen to their lowest level since Sep. 2022 and lowest for this time of year since 2018 lowering navigable loading volumes.
- Planned maintenance at BP’s Gelsenkirchen crude unit is scheduled to continue until 14 October limiting availability by 120kbpd while also planning a partial shutdown of another unit later this autumn.
- Shell’s Miro Refinery works on the FCC and alky units limiting output by 62kbpd will end on 31 October.
- Bayernoil’s Neustadt refinery in southern Germany had earlier this week lowered output since 6 Oct after a fire at the facility damaged a mild hydrocracker unit.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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