Europe Gasoline/Naphtha-Gasoline refining margins dip

- Northwest European gasoline refinery margins fell by about $6.26 to $25.84 a barrel on Thursday despite lower stocks as refiners ramped up production of middle distillates.

  • About 29,000 metric tons of E5 gasoline barges traded in the Argus window as BP, Sahara and Equinor sold to TotalEnergies, Varo and Shell.

  • A further 4,200 tons of E10 gasoline barges traded on an Argus basis, with TotalEnergies selling to Varo, MB Energy and ExxonMobil.

  • Gasoline stocks held independently in the Amsterdam-Rotterdam-Antwerp refining and storage hub fell around 11% on the week, data from Dutch consultancy Insights Global showed, on a rise in exports and limited imports. ARA/

  • Indonesia will introduce ethanol-blended gasoline alongside a higher 50% biodiesel mandate from July 1, a significant step in the country’s push to boost energy self-sufficiency.

  • Vitol has held talks with service providers and is seeking permits to operate the Rio Bravo fuel storage terminal it built six years ago in northern Mexico and left idle, giving the company a physical foothold in the Mexican downstream market for the first time.

  • China's gasoline exports dropped to a historical low in April of 23,409 metric tons, and the only recipient outside Hong Kong and Macau was Myanmar, which received just 25,350 barrels, down 65% from March.

Trade

Bid

Offer

Prev.

Seller

Buyer

Ebob Barges MOC Platts E5

(fob ARA)

$1145

Ebob Barges E10 Platts (fob ARA)

Ebob Barges Argus E5 (fob ARA)

$1123.50-$1131.50 (29KT)

$1168.75 (8KT)

BP, Sahara, Equinor

TotalEnergies, Varo, Shell

Ebob Barges E10 Argus (fob ARA)

$1109-$1116 (4.2KT)

$1119.00-$1165.00 (20KT)

TotalEnergies

Varo, MB Energy, ExxonMobil

June swap

$1107.75

$1121.50

Premium Unleaded (fob ARA)

Cargoes

(fob MED)

Cargoes (cif NWE)

Naphtha

(cif NWE)

Ebob crack (per barrel)

$25.84

Prev. $32.1

Brent futures

LCOc1

Rbob

RBc1

Rbob crack