Europe Gasoline/Naphtha-Gasoline refining margins rise
Shell Plc Sponsored ADR SHEL | 0.00 |
LONDON, May 29 (Reuters) - Northwest European gasoline refinery margins rose by about 44 cents a barrel to $24.22 a barrel on Friday, boosted by lower underlying crude prices and favourable export economics to the United States.
About 18,000 metric tons of E5 gasoline barges traded in the Argus window as BP and Trafigura sold to TotalEnergies.
No barges of E10 gasoline traded on Friday.
Total oil product stocks held independently in the Amsterdam-Rotterdam-Antwerp refining and storage hub fell around 1% on the week to their lowest since November 2014, data from Dutch consultancy Insights Global showed on Thursday. ARA/
Gasoline stocks rose 7.5% to 1.11 million metric tons as blending activity in the region picked up, Insights Global's Lars van Wageningen said.
U.S. gasoline stocks USOILG=ECI fell by 2.6 million barrels last week to 211.6 million barrels, the Energy Information Administration said, compared with analysts' expectation in a Reuters poll for a 2.41 million-barrel draw.
Sparta Commodities said it remains bullish on physical transatlantic arbitrage for ARA players, as expected U.S. inventory draws and biofuel-driven gains in paper spreads should continue to lift arbitrage values despite higher blending costs.
Meanwhile, EU-27 and UK gasoline and blending component exports have averaged 807,000 barrels per day so far this month, compared with an average of 955,000 bpd in April, Kpler data showed.
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Ebob Barges MOC Platts E5 (fob ARA)
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Ebob Barges E10 Platts (fob ARA) |
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Ebob Barges Argus E5 (fob ARA) |
$975.25 (18KT) |
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$984.25(35KT) |
BP, Trafigura |
Totsa |
Ebob Barges E10 Argus (fob ARA) |
$972.75 (3KT assessed) |
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$982.50 (4KT) |
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June swap |
$958.75 |
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$976.50 |
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Premium Unleaded (fob ARA)
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Cargoes (fob MED) |
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Cargoes (cif NWE) |
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Naphtha (cif NWE)
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Ebob crack (per barrel) |
$24.22 |
Prev. $23.78 |
Brent futures |
LCOc1 |
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Rbob |
RBc1 |
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Rbob crack |
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