Europe Gasoline/Naphtha-Gasoline margins slide on inventory rise
LONDON, Jan 2 (Reuters) - Northwest European gasoline refining profit fell by about $1.20 to $6.27 per barrel on Thursday as a rise in inventories of the motor fuel on both sides of the Atlantic weighed.
About 4,000 metric tons of Eurobob E5 barges traded, which BP sold Trafigura and TotalEnergies.
In the Platts window, BP also sold an E5 barge to Varo.
A further 5,000 tons of Eurobob E10 traded, as Shell sold to Varo.
Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by 4% to 1.41 million metric tons on slow trading activity, data from Dutch consultancy Insights Global showed.
U.S. gasoline stocks USOILG=ECI also rose, gaining 7.7 million barrels on the week to 231.4 million barrels, the Energy Information Administration said, compared with analysts' expectations in a Reuters poll for a 0.3 million-barrel build.
| Trade | Bid | Offer | Prev. | Seller | Buyer |
Ebob Barges MOC Platts E5 (fob ARA) EUROBOB-ARA | $714 | BP | Varo | |||
Ebob Barges E10 Platts (fob ARA) | ||||||
Ebob Barges Argus E5 (fob AR) | $694.75 on 4KT | $684 (4KT) | BP | Trafigura, Totsa | ||
Ebob Barges E10 Argus (fob AR) | $695.25 on 5KT | $686 (8KT) | Shell | Varo | ||
Feb. swap (fob ARA) | $710.50 | $686.25 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | ||||||
Cargoes (fob MED) |
| |||||
Cargoes (cif NWE) |
| |||||
Naphtha (cif NWE) NAF-C-NWE | Jan +$6 |
Ebob crack (per barrel) | $6.27 | Prev. $7.47 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
(Reporting by Ahmad Ghaddar)
((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))
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