Ethylene contract price falls in April

Spanish Market: Oil products, Petrochemicals
27/03/14

The monthly ethylene contract price (CP) fell by €15/t ($20.68/t) in April, to €1,165/t ($1,606/t) on a free delivered northwest Europe basis.

The drop in price was reflective of an over-supply of ethylene, combined with falling feedstock prices and weak derivative demand from the plastics industry.

The oversupply of ethylene was brought about in part by the unusually small number of cracker turnarounds and outages so far this year. In addition, the average ratio of propane to naphtha for March fell by almost 4.5pc compared with February, triggering the widespread use of LPG on flexible crackers.

Crackers at refineries in western Europe have been operating below 80pc of nameplate capacity on average, in an effort to manage ethylene stocks, and it is likely that ethylene cracking capacity will continue to fall in the face of weak long-term demand.

Total European ethylene production in 2013 fell to 18.88mn t — its lowest level since 1997 — according to the Association of Petrochemical Producers in Europe (APPE).

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16/04/26

Aumento de mescla do biodiesel atrasará em um ano

Sao Paulo, 16 April (Argus) — A elevação do mandato da mescla de biodiesel atrasará até, pelo menos, março de 2027, após o Ministério de Minas e Energia (MME) prorrogar o cronograma dos testes de viabilidade, de acordo com o novo plano apresentado a participantes do mercado. A Lei do Combustível do Futuro previa aumentar a mescla de 15pc (B15) para 16pc (B16) em março de 2026, desde que houvesse comprovação de que os novos níveis são tecnicamente viáveis. O MME espera que o relatório final quanto à utilização de misturas de B16-20 seja aprovado até o fim de março de 2027, caso os testes confirmem, sem ressalvas, que os níveis são viáveis, de acordo com o plano ao qual a Argus obteve acesso. O novo cronograma prevê o início dos primeiros testes experimentais em junho, adiamento de três meses em relação ao plano anterior, publicado em 19 de novembro de 2025. A necessidade de mais tempo para as fases de consolidação metodológica e negociações com laboratórios atrasou parcialmente o cronograma, de acordo com o plano. A falta de infraestrutura para a realização de testes mecânicos contribuiu para postergar o prazo inicial, segundo informações apresentadas pelo MME em março. Em um cenário no qual a aprovação dependa de ajustes técnicos dos testes, o prazo para a validação do relatório final pode se estender até julho de 2027. Ainda não há datas para testes das misturas entre B20-25. O atraso na elevação de mescla coincide com a alta dos preços do diesel S10 nacionalizado no mercado à vista acima dos preços do biodiesel negociado por contrato, desde 5 de março, e com o consequente aumento da pressão pelo avanço do mandato de mescla do biodiesel. O movimento ocorre após a elevação dos preços globais de derivados de petróleo devido à guerra entre Estados Unidos, Israel e Irã. A Associação dos Produtores de Biocombustíveis do Brasil (Aprobio) e a Associação Brasileira das Indústrias de Óleos Vegetais (Abiove) pressionaram neste mês a Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP) para permitir misturas de biodiesel acima do mandato sem autorização prévia. As entidades argumentaram que o Brasil tem capacidade para fornecer uma mistura de biodiesel de até 21,6pc no diesel. O MME não respondeu ao pedido da Argus por comentários referentes ao novo cronograma. Por Lucas Lignon Envie comentários e solicite mais informações em feedback@argusmedia.com Copyright © 2026. Argus Media group . Todos os direitos reservados.

ARA jet fuel stocks at six-year low: Insights Global

16/04/26

ARA jet fuel stocks at six-year low: Insights Global

London, 16 April (Argus) — Jet fuel stocks in independently held storage at the Amsterdam-Rotterdam-Antwerp (ARA) hub fell to their lowest level in more than six years in the week to 15 April, while naphtha inventories dropped to a one-year low, consultancy Insights Global said. Jet fuel stocks fell for a second consecutive week, down by 7.6pc to around 600,000t — the lowest level since April 2020. Independently held inventories had already been declining from late January, before jet fuel flows from the Mideast Gulf were disrupted by the US-Iran war. US jet fuel flows have since been diverted towards the UK, as the country seeks to build stocks ahead of peak summer airline demand. The UK also imported jet fuel from the ARA hub during the week, further tightening regional availability. Independently held gasoline stocks rose by 2.5pc on the week to 1.04mn t. Seasonally weak inland demand and lower pull from west Africa allowed refinery output in ARA to accumulate in storage, Insights Global said. The consultancy also noted weaker blending interest, potentially reflecting an oversupplied European gasoline market, in line with market feedback. Naphtha stocks fell sharply, down by 13.9pc to about 430,000t, their lowest level in a year. Cargoes that would typically supply Europe from Algeria and the US were instead diverted to Asia-Pacific, where buyers were willing to pay higher prices, Insights Global said. By Leon Wheeler Independent ARA stocks on 15 April 2026 000t Stocks ± week-on-week ±% week-on-week Gasoil 1,950 -142 -6.8 Fuel oil 702 37 5.6 Gasoline 1,039 25 2.5 Naphtha 429 -69 -13.9 Jet 597 -49 -7.6 Total 4,717 -198 -4.0 — Insights Global Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Rotterdam 1Q bunker sales fall sharply

16/04/26

Rotterdam 1Q bunker sales fall sharply

London, 16 April (Argus) — Demand for conventional marine fuels in Rotterdam fell by 28pc on the year in the first quarter of 2026, after the Netherlands implemented the EU's revised Renewable Energy Directive (RED III) at its ports. The decline also reflects disruption linked to the US-Iran war. Market participants reported a drop in Rotterdam bunker demand even before the war, as some shipowners shifted fuelling to neighbouring ports to avoid price premiums created by the Netherlands' unilateral transposition of RED III marine mandates from 1 January. Sales of very-low sulphur fuel oil (VLSFO) fell most sharply, down by 44pc from a year earlier to about 440,000t in the first quarter. High-sulphur fuel oil (HSFO) volumes dropped by 25pc to about 619,000t, while ultra-low sulphur fuel oil (ULSFO) sales fell by 13pc. Marine gasoil (MGO) and marine diesel oil (MDO) demand declined by 8pc on the year to around 361,000t. Some shipowners instead opted to bunker in neighbouring Antwerp, which forms part of the ARA hub and offers lower conventional bunker prices without requiring route changes. Others prioritised bunkering at Gothenburg in Sweden or ports in Germany, market participants said. Price differentials supported the shift. Between early February and the end of March, MGO dob Rotterdam prices averaged $12.75/t higher than the Antwerp equivalent, while VLSFO dob Rotterdam held an average premium of roughly $14.50/t over the same period. Tighter global supply has added further pressure. The effective closure of the strait of Hormuz sharply reduced bunker availability in Singapore, increasing competition for VLSFO and MGO cargoes that would otherwise be exported to the ARA hub. After the start of the US-Iran war, Rotterdam MGO prices rose by 75pc to an average of about $1,186/t in March, while VLSFO prices climbed by 57pc to an average of $710.50/t. By Gabriel Tassi Lara and Hussein Al-Khalisy Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

UK jet fuel supply OK for now, outlook uncertain

16/04/26

UK jet fuel supply OK for now, outlook uncertain

London, 16 April (Argus) — UK jet fuel supply is currently secure but visibility beyond the next few weeks is limited, industry participants said at the UK liquid fuels trade association conference in Liverpool on Thursday. The risk of jet fuel shortages across Europe has risen because of disruption to supplies from the Mideast Gulf linked to the US-Israel war with Iran. Stock, demand and trade patterns suggest the UK is particularly exposed to tighter availability. "We're buying jet fuel today, it's available on the market," said Simon Holt, managing director of emerging energy at refiner Phillips 66. "How that's going to change, I don't know. There is less coming out of the Middle East and something has got to give." Essar Energy Transition (EET) managing director Ruth Herbert echoed that view. "There are no problems today, you can buy it, and we have some foresight on that. What will become clear in the next cycle is maybe six weeks away." Petroineos head of inland trading David Wilson indicated a similar outlook. Phillips 66 operates the UK's 230,000 b/d Killingholme refinery, while EET runs the 195,000 b/d Stanlow plant. Petroineos closed its Grangemouth refinery in Scotland last year and has repurposed the site as an import and distribution terminal. The IEA said earlier this week that European markets will need to work harder to attract more replacement jet fuel cargoes from outside the Mideast Gulf. If the region is unable to secure more than 50pc of its lost Middle East volumes, then stocks may fall low enough to cause physical shortages at some airports by June, it said. Last week, EU airports association ACI Europe warned that the EU could experience jet fuel shortages in just three weeks if Middle East flows through the strait of Hormuz do not resume "in any significant and stable way". By Josh Michalowski Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Rotterdam biomarine sales fall in 1Q

16/04/26

Rotterdam biomarine sales fall in 1Q

London, 16 April (Argus) — Marine biodiesel blend sales fell by 35pc in the first quarter compared with the fourth quarter of last year, but were roughly steady compared with the first quarter of 2025. Participants pointed to lacklustre demand in January and February, with an uptick in March as the US-Iran war led to Dutch B100 flipping to a discount against MGO . But these discounts failed to support significant demand growth , as volatility weighed on marine fuel trading activity and buyers hesitant to make significant changes to their procurement strategy based on an acute price spread. Rotterdam's loss has been Singapore's gain. Data from the Port of Singapore showed roughly a 13pc growth in marine biodiesel blend sales on the quarter to the first quarter of 2026. This demand is attributed to FuelEU Maritime requirements, which came into effect in 2025 and require ships coming in, out of, and operating within EU waters to reduce emissions. Shipowners bunkering marine biodiesel in Singapore for EU-bound voyages can use it for FuelEU Maritime compliance. And compliance generated from bunkering marine biodiesel in Singapore can then be used to achieve compliance on vessels operating European routes, via the pooling mechanism, in which obligated companies can combine their compliance balance with other vessels. Bio-LNG sales firmed by 28pc on the quarter in the first quarter of 2026, generating over-compliance which has sold at a significant premium to cost . This may have also weighed on marine biodiesel blend sales, as bio-LNG volumes bunkered would have generated FuelEU compliance surpluses that can then be sold on to vessels that do not have LNG-capable engines. This would then potentially dampen FuelEU-driven demand from those vessels for marine biodiesel blends, and many shipowners did opt to buy surpluses to meet FuelEU requirements. But this dynamic may soon change because of the US-Iran war, where the FuelEU used cooking oil methyl ester (Ucome)–MGO abatement ex-emissions trading system (ETS) price was negative on 7 April. It has since returned to positive levels, marked at €61.45/tCO2e on 15 April. But this remains significantly below FuelEU compliance surplus levels, with offers seen at €175-210/tCO2e, meaning it is currently cheaper to generate compliance using marine biodiesel blends than to buy surpluses to meet the FuelEU requirements. By Hussein Al-Khalisy Rotterdam bunker sales t Fuel 1Q 2026 4Q 2025 Q1 2025 q-o-q % y-o-y % ULSFO 162,142 219,039 187,031 -26 -13 VLSFO 439,804 745,786 789,218 -41 -44 HSFO 619,010 804,962 829,197 -23 -25 MGO/MDO 360,517 402,781 393,071 -10 -8 Conventional total 1,581,473 2,172,568 2,198,517 -27 -28 Biofuel blends 104,630 161,934 104,037 -35 1 LNG (m3) 267,454 192,433 261,200 39 2 Bio-LNG (m3) 15,260 11,932 na 28 na Biomethanol 996 na 5,490 na -82 Port of Rotterdam Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Ethylene contract price falls in April

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