Europe Gasoline/Naphtha-Gasoline margins rise to $10/bbl
LONDON, Sept 18 (Reuters) -Northwest European gasoline refining margins rose by $1 to about $10 a barrel on Wednesday as U.S. inventories increased by less than expected.
About 4,000 tons of Eurobob E10 barges traded in the Argus window, which Shell and Sahara sold to TotalEnergies and BMV.
Another 6,000 tons of Eurobob E5 traded, down from 14,000 tons on Tuesday. Gunvor and Shell sold to Trafigura.
U.S. gasoline stocks USOILG=ECI rose by 100,000 barrels last week to 221.6 million barrels, the Energy Information Administration said, less than forecasts in a Reuters poll for a 200,000-barrel build.
EU and UK gasoline exports are projected to reach 804,000 barrels per day (bpd) this month, Kpler data showed, down from 1.16 million bpd in August.
"The picture for Eurobob in Q4 is now more bearish than the other markets, as the lack of export options will pressure the European market down in order to fight for new alternatives," said Sparta Commodities analyst Jorge Molinero.
Shell SHEL.L said it would start maintenance on seven of the more than 60 plants at its Dutch Pernis site - which is among the largest integrated refinery and chemicals manufacturing sites in Europe - in the last week of September.
"This is part of a cycle that starts every six years," the company said in a statement.
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) | $698.75 (6KT) | $690.75-691 (14 KT) | Gunvor, Shell | Trafigura | ||
Ebob Barges E10 Argus (fob AR) | $693.75 (4KT) | $693 (1KT assessed) | Shell, Sahara | TotalEnergies, BMV | ||
Oct swap (fob ARA) | $668.75 | |||||
Premium Unleaded (fob ARA) PU-10PP-ARA | $704 | $713 | $714-715 (5 barges) | Trafigura | Musket | |
Cargoes (fob MED) | ||||||
Cargoes (cif NW E) | ||||||
Naphtha (cif NW E) NAF-C-NWE |
Ebob crack (per barrel) | $9.97 | Prev. $8.97 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
Reporting by Ahmad Ghaddar
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