Europe Gasoline/Naphtha-Gasoline cracks jump on inventory drawdown
LONDON, Oct 16 (Reuters) - Northwest European gasoline profit margins rose by about $1.36 a barrel on Thursday to above $20 a barrel as inventories of the motor fuel fell on both sides of the Atlantic.
A total of 4,000 metric tons of Eurobob E5 gasoline barges traded as Varo sold two barges to Trafigura.
Another 2,000 tons of Eurobob E10 gasoline traded with Shell selling a single barge to TotalEnergies.
Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by about 4.6% on the week, data from Dutch consultancy Insights Global showed on Thursday.
Gasoline stocks stood at 1.13 million metric tons and fell on higher exports to West Africa and to North America, Insights Global's Lars van Wageningen said.
U.S. gasoline stocks USOILG=ECI dropped by 267,000 barrels last week to 218.8 million barrels, the Energy Information Administration said, compared with analysts' expectations in a Reuters poll for a 75,000-barrel draw.
EU and UK gasoline exports to other regions averaged 737,000 bpd in October so far, according to Kpler data, compared with 916,000 bpd in September.
| 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 ARA) | $684.25 (4KT) | $676 (assessed) | Varo | Trafigura | ||
Ebob Barges E10 Argus (fob ARA) | $680.25 (1KT assessed) | $669.50 (assessed) | Shell | TotalEnergies | ||
Nov. swap (fob ARA) | $628.75 | $625.75 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | ||||||
Cargoes (fob MED) | Nov. +$31 | |||||
Cargoes (cif NWE) | $741 | |||||
Naphtha (cif NWE) NAF-C-NWE | Nov. -$2 |
Ebob crack (per barrel) | $20.04 | Prev. $18.67 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
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