Europe Gasoline/Naphtha-Gasoline margins fall on higher ARA stocks
LONDON, May 8 (Reuters) - Northwest European gasoline profit margins fell by about $1.60 to $15.42 a barrel on Thursday, as inventories in the ARA trading and refining hub rose by 7% to their highest in three weeks.
A total of 1,400 metric tons of Eurobob E10 barges traded in the Argus window on Thursday. Litasco sold to Varo.
A further 6,000 tons of Eurobob E5 barges traded on the day. Gunvor sold to Varo and Shell.
ARA gasoline stocks rose 7% to 1.29 million metric tons as production increased owing to higher blending activity in the region, said Insight Global's Lars van Wageningen.
EU and UK gasoline and blending component exports to other regions are expected to reach 1 million barrels per day (bpd) in May, down slightly from 1.07 million bpd in April, Kpler data showed.
| 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) | $657 (6KT) | $663.50-665.75 (12KT traded) | Gunvor | Shell, Varo | ||
Ebob Barges E10 Argus (fob AR) | $658.25 (1.4 KT) | $655.50 (14KT traded) | Litasco | Varo | ||
June swap (fob ARA) | $658.25 | $644.25 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | ||||||
Cargoes (fob MED) | June + $4 | |||||
Cargoes (cif NWE) | ||||||
Naphtha (cif NWE) NAF-C-NWE | May + $6 | May + $7 |
Ebob crack (per barrel) | $15.42 | Prev. $16.80 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
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