Europe Gasoline/Naphtha-Gasoline refining margins fall, ARA stocks draw

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- Northwest European gasoline refining margins fell on Thursday, by $1.05 to $21.85 a barrel, even as independently held gasoline stocks in Amsterdam-Rotterdam-Antwerp (ARA) fell last week according to data from Dutch consultancy Insights Global.

  • About 2,000 metric tons of Eurobob E5 gasoline barges traded in the Argus window as Trafigura sold to TotalEnergies.

  • A further 2,000 tons of Eurobob E10 gasoline barges changed hands, with TotalEnergies selling to Varo.

  • In the Mediterranean window, Trafigura sold a June 18-22 cargo to BP at a $21 per ton premium to the June Mediterranean contract on a FOB Rijeka basis.

  • ARA gasoline stocks fell 7% on the week to 1.03 million tons, the data showed. That was driven by heavy outflows of exports to the United States, the Mediterranean, and West Africa, Insights Global's Lars van Wageningen said.

  • Russian-controlled Crimea tightened its rationing of fuel supplies on Thursday, suspending all cash sales of gasoline and the issuance of new coupons to buy it as the peninsula grapples with a shortage linked to Ukrainian drone strikes.

Trade

Bid

Offer

Prev.

Seller

Buyer

Ebob Barges MOC Platts E5

(fob ARA)

Ebob Barges E10 Platts (fob ARA)

Ebob Barges Argus E5 (fob ARA)

$989 (2KT)

$1010.50 (4.7KT)

Trafigura

TotalEnergies

Ebob Barges E10 Argus (fob ARA)

$979.25 (2KT traded, 1KT assessed)

$1013.50 (4KT)

TotalEnergies

Varo

July swap

$942.50

$988.25

Premium Unleaded (fob ARA)

Cargoes

(fob MED)

Balmo Med +$21

Trafigura

BP

Cargoes (cif NWE)

Naphtha

(cif NWE)

Ebob crack (per barrel)

$21.85

Prev. $22.90

Brent futures

LCOc1

Rbob

RBc1

Rbob crack