Europe Gasoline/Naphtha-Gasoline margins rise on lower crude price
LONDON, Jan 20 (Reuters) - Northwest European gasoline refining profit margins rose by about $1.40 to $6.32 a barrel, lifted by weaker underlying crude prices, but high inventories limited gains.
BP sold an Eurobob E5 barge to Gunvor during the Argus trading window.
A further 7,000 tons of E10 gasoline were traded, which Shell and TotalEnergies sold to Varo and BP.
In the Platts window, Vitol bid for a cargo in the Mediterranean while Trafigura offered a cargo.
Traders said demand for transatlantic cargoes was giving gasoline refining margins some support despite high inventories.
EU and UK gasoline exports are on track to reach 774,000 barrels per day this month, Kpler data showed, compared with 951,000 bpd in December.
| 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) | $724.75 (2KT) | $724.25 (2KT) | BP | Gunvor | ||
Ebob Barges E10 Argus (fob AR) | $719.50 (7KT) | $722.75 (10KT) | Shell, TotalEnergies | Varo, BP | ||
Feb. swap (fob ARA) | $727.25 | $730.75 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | $732 | |||||
Cargoes (fob MED) | Feb -$2 | Feb flat | Feb flat | |||
Cargoes (cif NWE) |
| |||||
Naphtha (cif NEW) NAF-C-NWE | Jan -$2 | Jan flat |
Ebob crack (per barrel) | $6.32 | Prev. $4.90 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
(Reporting by Ahmad Ghaddar
Editing by Tomasz Janowski)
((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))
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