Europe Gasoline/Naphtha-Gasoline profit margins rise
LONDON, July 9 (Reuters) - Northwest European gasoline profit margins gained over a dollar on Wednesday to $15.60 a barrel on stronger demand for the fuel.
A total of 14,000 tons on Eurobob E5 barges traded, with Trafigura and BP selling to Gunvor and Aramco.
An additional 5,200 metric tons of Eurobob E10 barges traded, as Shell and Gunvor sold to Varo and MB Energy.
U.S. gasoline stocks drew down more-than-expected on the back of strong driving demand in the week ended July 4, data from the Energy Information Administration showed.
Gasoline stocks fell by 2.7 million barrels in the week to 229.5 million barrels, the EIA said, nearly twice the expectations for a 1.5 million-barrel draw.
American Petroleum Institute data also showed that gasoline inventories fell by 2.18 million barrels last week.
Nigeria's Dangote petroleum refinery will construct storage tanks in Namibia to hold at least 1.6 million barrels of gasoline and diesel to supply refined fuel to southern Africa, two sources told Reuters.
| 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) | $721.50-$722.50 (14KT) | $707-715.50 (12KT) | Trafigura, BP | Aramco, Gunvor | ||
Ebob Barges E10 Argus (fob AR) | $720.50-$721.25 (5.2KT) | $708.25 (12.8KT) | Shell, Gunvor | Varo, MB Energy | ||
August swap (fob ARA) | $705.75 | $705.25 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | ||||||
Cargoes (fob MED) | July +$11 | |||||
Cargoes (cif NWE) | ||||||
Naphtha (cif NWE) NAF-C-NWE | July+$1 |
Ebob crack (per barrel) | $15.60 | Prev. $14.43 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
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