Europe Gasoline/Naphtha-Gasoline margins slip as ARA stocks rise
LONDON, Jan 30 (Reuters) - Northwest European gasoline refining profit margins fell by over $1 on Thursday to $7.26 a barrel, as gasoline stocks held independently in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub extended all-time highs.
About 3,500 metric tons of E5 gasoline changed hands as Trafigura sold to Mabanaft and Phillips66.
Another 5,000 tons of E10 gasoline traded, with Shell selling to Varo.
In the Platts window, Trafigura offered a Mediterranean gasoline cargo, while Vitol sought one.
ARA gasoline stocks rose by over 2.5% on the week to 1.63 million metric tons, with refinery production in the region high while exports remain slow, said Insight Global's Lars van Wageningen.
Meanwhile, EU and UK gasoline exports are on track to reach 898,000 barrels per day (bpd) this month, Kpler data showed, down from 934,000 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) | $706.50 (3,500 KT) | $714.75 (6KT) | Trafigura, Gunvor | Mabanaft, ExxonMobil | ||
Ebob Barges E10 Argus (fob AR) | $707.50 (5KT) | $712 (4KT) | Shell | Varo | ||
Feb. swap (fob ARA) | $719 | $715.50 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | ||||||
Cargoes (fob MED) | Fob Med + $2 | Fob Med + $4.50 | Feb - $1 | |||
Cargoes (cif NEW) |
| |||||
Naphtha (cif NEW) NAF-C-NWE | Feb + $4 |
Ebob crack (per barrel) | $7.26 | Prev. $8.52 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
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