Europe Gasoline/Naphtha-Gasoline margins up as exports to U.S. set to rise
LONDON, Dec 18 (Reuters) -Northwest European gasoline refining profit margins rose by around 70 cents to $7.64 a barrel on Wednesday, as European exports to the U.S. were on pace to rise in December amid higher U.S. inventories.
Around 4,000 tons of Eurobob E5 barges traded. Shell sold to ExxonMobil and TotalEnergies.
Bayegan and Vitol sought gasoline cargoes in the Platts Mediterranean market. No trades were agreed, as no buyers emerged.
U.S. gasoline stockpiles rose by 2.3 million barrels in the week to 222 million barrels, marking a larger rise than expectations, according to the Energy Information Administration.
EU and UK gasoline exports to the U.S. were on pace to reach a five-month high in December to around 231,000 barrels per day (bpd), up from 205,000 bpd in November, Kpler data showed.
Meanwhile, overall EU and UK gasoline exports were set to drop in December to around 976,000 bpd, down from 1.13 million bpd, according to Kpler.
Trade | Bid | Offer | Prev. | Seller | Buyer | |
Ebob Barges MOC Platts E5 (fob ARA) EUROBOB-ARA | $692 | TotalEnergies | Varo | |||
Ebob Barges E10 Platts (fob ARA) | ||||||
Ebob Barges Argus E5 (fob AR) | $683(4kt) | $676.25 | Shell | ExxonMobil, TotalEnergies | ||
Ebob Barges E10 Argus (fob AR) | $687.50 | $670.75-$683.75 | ||||
Jan swap (fob ARA) | $684 | $668.75 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | ||||||
Cargoes (fob MED) | FOB Med + $2 | |||||
Cargoes (cif NEW) | ||||||
Naphtha (cif NEW) NAF-C-NWE | January flat |
Ebob crack (per barrel) | $7.64 | Prev. $6.93 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
Reporting by Enes Tunagur; Editing by Shailesh Kuber
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