Europe Gasoline/Naphtha-Gasoline profit margins soften on higher crude
LONDON, Nov 18 (Reuters) -Northwest European gasoline refining margins fell by about 87 cents to $6.13 a barrel on Monday, even as trading liquidity picked up, as higher underlying oil prices weighed.
Gunvor sold a total of 10,000 metric tons of Eurobob E5 to Shell. Friday's liquidity stood at 8,000 tons.
Another 13,000 tons of Eurobob E10 barges were traded, which Varo bought fromShell, Petroineos, and Sahara.
A preliminary Reuters poll of analysts found that U.S. gasoline stockpiles likely rose by 1.6 million barrels last week.
China's refined fuel exports fell to an 18-month low in October, customs data showed on Monday, as weak export margins continued to weigh on shipments.
Gasoline exports totalled 670,000 tons last month, the lowest level since April and down 12.8% on the year.
Americans are expected to set a new record for Thanksgiving travel, with nearly 80 million to hit the roads, catch flights and board cruises over the holiday period, travel group AAA said on Monday.
Gasoline exports from the EU and the UK in November to other regions are set to rise on the month to 903,000 bpd from 776,000 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) | $664.25 (10KT) | $652.75-$653 | Gunvor | Shell | ||
Ebob Barges E10 Argus (fob AR) | $666.25 (13KT) | $663.25 | Shell, Petroineos, Sahara | Varo | ||
Dec swap (fob ARA) | $669 | $659.75 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | $676-$684 (6 barges) | $667-$676 | Petroineos, Trafigura, Shell | Musket, Trafigura | ||
Cargoes (fob MED) | ||||||
Cargoes (cif NWE) | ||||||
Naphtha (cif NWE) NAF-C-NWE | Dec +$3 (2 cargoes) |
Ebob crack (per barrel) | $6.13 | Prev. $7 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
Reporting by Ahmad Ghaddar and Enes Tunagur; Editing by Tasim Zahid
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