Europe Gasoline/Naphtha-Gasoline margins edge higher on lower stocks

Reuters · 6d ago
Europe Gasoline/Naphtha-Gasoline margins edge higher on lower stocks

- Northwest European gasoline refining margins rose by about 50 cents to $9.10 a barrel on Friday on support from a drop in regional inventories.

  • A total of 6,000 metric tons of Eurobob E10 barges traded in the Argus window. Shell sold to Varo and TotalEnergies.

  • A further 8,000 tons of Eurobob E5 changed hands. Gunvor sold to Trafigura, BP and BMV.

  • ARA gasoline stocks fell 5.6% to 934,000 tons in the week to Sept. 26, data from Dutch consultancy Insights Global showed.

  • Gasoline stocks fell as lower blending activity and regional refinery maintenance work offset a week of lacklustre exports out of the region, Insights Global's Rick Veringmeier told Reuters.

  • Meanwhile, EU and UK gasoline exports are on track to reach 993,000 barrels per day, according to Kpler data, compared with 1.16 million bpd in August.

  • Refining margins have shed value in the last few days as winter specification gasoline typically trades at a discount to summer because of looser evaporability specifications in colder temperatures.

  • "The end of the summer has brought with it the usual seasonal downturn in gasoline fundamentals," said Philip Jones-Lux, an analyst at Sparta Commodities.





Trade

Bid

Offer

Prev.

Seller

Buyer

Ebob Barges MOC Platts E5

(fob ARA)

EUROBOB-ARA


$699





Ebob Barges E10 Platts (fob ARA)







Ebob Barges Argus E5 (fob AR)

$682.50 (8KT)



$677.25

Gunvor

Trafigura, BP, BMV

Ebob Barges E10 Argus (fob AR)

$685.25 (6KT)



$677

Shell

Varo, TotalEnergies

Oct swap (fob ARA)

$672



$676.75



Premium Unleaded (fob ARA)

PU-10PP-ARA








Cargoes

(fob MED)


Oct FOB Med +$6





Cargoes (cif NW E)


$720





Naphtha

(cif NW E)

NAF-C-NWE



Oct +$3





Ebob crack (per barrel)

$9.10

Prev. $8.56

Brent futures

LCOc1

Rbob

RBc1

Rbob crack

RBc1-CLc1


(Reporting by Ahmad Ghaddar; Editing by Paul Simao)

((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))