Europe Gasoline/Naphtha-Gasoline crack soften on slow demand
LONDON, Oct 18 (Reuters) -Northwest European gasoline refining margins fell by about 90 cents to $10.18 a barrel on Friday as demand slowed and as supplies were set to rise as refineries return from maintenance.
A total of 6,000 metric tons of Eurobob E5 barges traded in the Argus window on Wednesday, with BP buying from Trafigura and Musket.
Another 7,000 tons of Eurobob E10 traded which Shell sold to BP, Trafigura and Total.
Traders said slowing export demand and a higher supplier outlook as refineries in Germany and France return from planned maintenance shutdowns was weighing on the market.
Meanwhile, independently held gasoline stocks in storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by about 4% to around 1.05 million tons in the week to Oct. 17, data from Dutch consultancy Insights Global showed.
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.
EU and UK gasoline exports are set reach 661,000 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) | $700.75(6KT) | $714.50 (8KT) | Trafigura, Musket | BP | ||
Ebob Barges E10 Argus (fob AR) | $695.50 (7KT) | $706.50 (1KT assessed) | Shell | BP, Trafigura, Total | ||
Nov swap (fob ARA) | $665 | $682.75 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | $710-$711 (3 barges) | $725 (7 barges) | BP | Musket | ||
Cargoes (fob MED) | Nov +$26 (Agioi Theodoroi) | Total | BP | |||
Cargoes (cif NW E) | ||||||
Naphtha (cif NW E) NAF-C-NWE |
Ebob crack (per barrel) | $10.18 | Prev. $11 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
Reporting by Ahmad Ghaddar, Editing by Louise Heavens
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