Europe Gasoline/Naphtha-Gasoline crack climb on lower stocks
LONDON, Oct 17 (Reuters) -Northwest European gasoline refining margins rose by about 90 cents to $11 a a barrel on Thursday, buoyed by fall in Atlantic basin inventories.
A total of 8,000 metric tons of Eurobob E5 barges traded in the Argus window on Wednesday, with Trafigura and Musket selling to TotalEnergies, BMV, Mabanaft and BP. This was down sharply from the 24,000 tons that traded on Wednesday.
Shell sold one barge of Eurobob E10 to Varo, following a quiet session on Wednesday.
Independently held refined oil products stocks in storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage were broadly steady in the week to Thursday, data from Dutch consultancy Insights Global showed.
Total inventories reached 6.23 million metric tons by Thursday, the data showed, from 6.22 million tons the previous week.
Gasoline inventories meanwhile fell by about 4% to around 1.05 million tons on higher inland demand, Lars van Wageningen of Insights Global said.
Meanwhile, U.S. gasoline stocks USOILG=ECI fell by 2.2 million barrels last week to 212.7 million barrels, the Energy Information Administration said, compared with analysts' expectations in a Reuters poll for a 1.5 million-barrel draw.
A fire broke out on a crude distillation unit at Germany's Neustadt oil refinery on Oct. 16, operator Bayernoil said in a statement, adding that it was extinguished within minutes. The impact on production was not immediately clear.
EU and UK gasoline exports are set reach 621,000 barrels per day this month according to the latest data from Kpler, compared with 1 million bpd in September.
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) | $714.50 (8KT) | $709.50 (24KT) | Trafigura, Musket | Total, BMV, BP, Mabanaft | ||
Ebob Barges E10 Argus (fob AR) | $706.50 (1KT assessed) | $708.25 (3KT assessed) | Shell | Varo | ||
Nov swap (fob ARA) | $682.75 | $682.75 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | $725 (7 barges) | $719-723 (29 barges) | BP, Gunvor, Trafigura, | Musket | ||
Cargoes (fob MED) | ||||||
Cargoes (cif NW E) | ||||||
Naphtha (cif NW E) NAF-C-NWE | Nov +$5 | Nov +$3, Oct -$4.5, Oct -$2 |
Ebob crack (per barrel) | $10.11 | Prev. $10.13 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
Reporting by Ahmad Ghaddar; Editing by Tasim Zahid and Hugh Lawson
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
