Europe Gasoline/Naphtha-Gasoline margins slip on slower demand
LONDON, Sept 23 (Reuters) -Northwest European gasoline refining margins fell by about $1.50 to $9.55 a barrel on Monday as slowing demand weighed.
About 17,000 Eurobob E10 barge traded in the Argus window on Monday, which Petroineos and Gunvor sold to Varo and Mabanaft.
Another 8,000 tons of Eurobob E5 traded as Gunvor and Litasco sold to Trafigura.
EU and UK gasoline exports are on track to reach 947,000 barrels per day (bpd) in September, Kpler data show, down from 1.1 million bpd in August.
Oil refiners in Asia, Europe and the United States are facing a drop in profitability to multi-year lows, marking a downturn for an industry that had enjoyed surging returns post-pandemic and underlining the extent of the current slowdown in global demand.
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) | $698.50 (8KT) | Gunvor, Litasco | Trafigura | |||
Ebob Barges E10 Argus (fob AR) | $695.35 on 17KT (3KT Summer assessed) | Petroineos, Gunvor | Varo, Mabanaft | |||
Oct swap (fob ARA) | $677.25 | $692.25 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | ||||||
Cargoes (fob MED) | ||||||
Cargoes (cif NW E) | ||||||
Naphtha (cif NW E) NAF-C-NWE | Sept -$0.50 |
Ebob crack (per barrel) | $9.55 | Prev. $11 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
Reporting by Ahmad Ghaddar; Editing by Susan Fenton
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