Europe Gasoline/Naphtha-Gasoline margins rise, demand concerns deepen
LONDON, Sept 10 (Reuters) -Northwest European gasoline refining margins rose sharply above $10 a barrel on Tuesday following a sharp sell-off in crude prices, while concerns over demand increased.
Some 11,000 metric tons of Eurobob E10 barge traded in the Argus window. Gunvor, Equinor and Musket sold to Varo, Mabanaft, BP and BMW.
Another 4,000 tons of Eurobob E5 traded. Gunvor sold to Exxon and Trafigura.
Brent crude futures fell below $70 a barrel on Tuesday for the first time since December 2021, after OPEC+ revised down its demand forecast for this year and 2025.
EU and UK gasoline exports are projected to reach 614,000 barrels per day (bpd) this month, Kpler data showed, down from 1.14 million bpd in August.
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) | $669.25, $670.25 | $665 (10KT) | Gunvor | Exxon, Trafigura | ||
Ebob Barges E10 Argus (fob AR) | $655-$673.25 | $671 (3KT) | Gunvor, Equinor, Musket | Varo, Mabanaft, BMW, BP | ||
Oct swap (fob ARA) | $630.75 | $641.25 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | $657-$658 | $667-$668 (9 barges) | Trafigura | Musket | ||
Cargoes (fob MED) | Sept +$11 | |||||
Cargoes (cif NW E) | ||||||
Naphtha (cif NW E) NAF-C-NWE | Sept +$7 |
Ebob crack (per barrel) | $10.34 | Prev. $7.28 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
Reporting by Ron Bousso; Editing by Shailesh Kuber
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