Europe Gasoline/Naphtha-Gasoline margins rebound from 15-month low
LONDON, Jan 16 (Reuters) - Northwest European gasoline refining profit margins rose by around $1.50 to $5.49 per barrel on Thursday, despite gasoline inventories in the Amsterdam-Rotterdam-Antwerp (ARA) hub reaching a fresh all-time high.
Independently held gasoline stocks in the ARA trading and refining hub extended a record high of 1.54 million metric tons, up from 1.53 million tons, according to Dutch consultancy Insights Global.
ARA gasoline exports reached their lowest since the Covid-19 pandemic in December at 485,000 barrels per day (bpd), as exports to Nigeria fell sharply, according to Kpler.
About 4,000 metric tons of Eurobob E5 barges traded in the Argus window. Shell sold to Gunvor.
A further 13,000 tons of E10 gasoline were traded.
In the Platts window, Vitol sought a Mediterranean gasoline cargo. No trades were agreed as no buyers emerged.
| Trade | Bid | Offer | Prev. | Seller | Buyer |
Ebob Barges MOC Platts E5 (fob ARA) EUROBOB-ARA | $739.50 | |||||
Ebob Barges E10 Platts (fob ARA) | ||||||
Ebob Barges Argus E5 (fob AR) | $727.50(4KT) | $722 (6KT) | Shell | Gunvor | ||
Ebob Barges E10 Argus (fob AR) | $729 (13KT) | $721.25 (3KT) | Shell, Sahara, TotalEnergies, ExxonMobil | Varo, Glencore, BP | ||
Feb. swap (fob ARA) | $725 | $739.50 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | ||||||
Cargoes (fob MED) | FOB Med - $1 | |||||
Cargoes (cif NWE) |
| |||||
Naphtha (cif NEW) NAF-C-NWE | Jan - $4 |
Ebob crack (per barrel) | $5.49 | Prev. $3.92 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
(Reporting by Enes Tunagur; Editing by Vijay Kishore)
((Enes.Tunagur@thomsonreuters.com;))
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