Europe Gasoline/Naphtha-Gasoline profit margins rise on brisk trading
LONDON, Nov 19 (Reuters) -Northwest European gasoline refining margins rose by about 40 cents to $6.43 a barrel on Tuesday on buoyant demand.
Gunvor and Total sold a total of 22,000 metric tons of Eurobob E5 to Shell, BP and Mabanaft, as liquidity rose sharply from Monday's 10,000 tons.
Another 7,000 tons of Eurobob E10 barges were traded, which Shell sold to Gunvor, BP and Musket.
No trades were reported in the naphtha market, despite a flurry of bids and offers.
A preliminary Reuters poll of analysts found that U.S. gasoline stockpiles likely rose by 900,000 barrels last week.
Gasoline exports from the EU and the UK in November to other regions are set to rise to about 900,000 barrels per day (bpd) from 813,000 bpd in October, according to Kpler data.
Trade | Bid | Offer | Prev. | Seller | Buyer | |
Ebob Barges MOC Platts E5 (fob ARA) EUROBOB-ARA | ||||||
Ebob Barges E10 Platts (fob ARA) | ||||||
Ebob Barges Argus E5 (fob AR) | $671.25 on 22KT | $664.25 (10KT) | Gunvor, Total | Shell, BP, Mabanft | ||
Ebob Barges E10 Argus (fob AR) | $673.50 on 7KT | $666.25 (13KT) | Shell | Gunvor, BP, Musket | ||
Dec swap (fob ARA) | $669.75 | $669 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | $681 (9 barges) | $676-$684 (6 barges) | Shell | Musket | ||
Cargoes (fob MED) | ||||||
Cargoes (cif NWE) | ||||||
Naphtha (cif NWE) NAF-C-NWE | Dec +$1 | Dec +$3 | Dec +$3 (2 cargoes) |
Ebob crack (per barrel) | $6.53 | Prev. $6.13 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
Reporting by Ahmad Ghaddar
Editing by Mark Potter
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