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Europe Gasoline/Naphtha-Gasoline margins slide despite inventory fall

ReutersFeb 20, 2025 6:03 PM

- Northwest European gasoline refining profit margins fell sharply on Thursday to $7.84 a barrel despite a drop in regional inventories as export demand remained lacklustre.

  • A total of 6,000 metric tons of E5 gasoline barges traded, as TotalEnergies and Trafigura sold barges to ExxonMobil and BP.

  • Another 4,000 tons of Eurobob E10 barges traded as Trafigura and Sahara sold barges to BP and Varo.

  • Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by 4% on the week, their second decline in a row, data from Dutch consultancy Insights Global showed.

  • Gasoline stocks stood at 1.46 million metric tons, falling on higher exports, Insights Global's Lars van Wageningen said.

  • U.S. gasoline stocks USOILG=ECI fell by 151,000 barrels last week to 247.9 million barrels, the Energy Information Administration said, compared with expectations in a Reuters poll for a 6,000-barrel draw.

  • UK and EU gasoline exports are on track to reach 883,000 barrels per day in February, compared with 905,000 bpd in January, Kpler data show.

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)

$713.75 (6KT)

$719.25

TotalEnergies, Trafigura

BP, ExxonMobil

Ebob Barges E10 Argus (fob AR)

$720 (4KT)

$726.25

Sahara, Trafigura

BP, Varo

March swap (fob ARA)

$722

$722

Premium Unleaded (fob ARA)

PU-10PP-ARA

Cargoes

(fob MED)

Cargoes (cif NWE)

$754

$757 CIF Thames

Naphtha

(cif NWE)

NAF-C-NWE

March +$4

Feb +$2

Ebob crack (per barrel)

$7.84

Prev. $9.37

Brent futures

LCOc1

Rbob

RBc1

Rbob crack

RBc1-CLc1

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