Europe Gasoline/Naphtha-Gasoline margins up despite higher ARA stocks
LONDON, Dec 12 (Reuters) -Northwest European gasoline refining profit margins rose to about $7.66 per barrel on Thursday, despite a rise in Amsterdam-Rotterdam-Antwerp (ARA) stocks in the week to a fresh one-year high.
About 24,000 metric tons of Eurobob E10 traded in the Argus window, as Gunvor, Shell and Petroineos sold barges to Varo, Mabanaft, BP and TotalEnergies.
Another 4,000 tons of Eurobob E5 barges traded, as Shell sold to Mabanaft.
Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by 5% in the week to 1.36 million tons, reaching their highest since mid-November 2023, data from Dutch consultancy Insights Global showed.
Gasoline exports to west Africa and U.S. slowed, Insight Global's Lars van Wageningen said.
Nigeria's Dangote oil refinery exported its first gasoline cargo to Cameroon, as the plant ramps up its secondary units.
Meanwhile, EU and UK gasoline exports were on pace to drop in December to around 819,000 bpd, down from 1.09 million bpd in November, which was their highest since August, Kpler data showed.
Trade | Bid | Offer | Prev. | Seller | Buyer | |
Ebob Barges MOC Platts E5 (fob ARA) EUROBOB-ARA | $680 (2KT) | $683 | ||||
Ebob Barges E10 Platts (fob ARA) | ||||||
Ebob Barges Argus E5 (fob AR) | $686.50 (4KT) | $676.50 (4KT) | ||||
Ebob Barges E10 Argus (fob AR) | $686 (24KT) | $682.71 (18.5KT) | ||||
Jan swap (fob ARA) | $674.75 | $679 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | ||||||
Cargoes (fob MED) | ||||||
Cargoes (cif NWE) | ||||||
Naphtha (cif NWE) NAF-C-NWE |
Ebob crack (per barrel) | $7.66 | Prev. $7.02 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
Reporting by Enes Tunagur; Editing by Krishna Chandra Eluri
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