Europe Gasoline/Naphtha-Gasoline refining margins slump on higher stocks

- Northwest European gasoline refinery margins fell sharply by about 14% to $27.42 a barrel as regional inventories rose and underlying crude prices gained.

  • About 24,000 metric tons of E5 gasoline barges traded in the Argus window as BP sold to TotalEnergies and ExxonMobil. BP also sold an E5 barge to Trafigura in the Platts window.

  • An additional 4,000 tons of E10 gasoline barges traded on an Argus basis with Total selling to Shell.

  • Gasoline stocks held independently in the Amsterdam-Rotterdam-Antwerp refining and storage hub rose by 8.3% to 1.17 million tons as export activity slowed and inland demand remained stable, data from Dutch consultancy Insights Global showed on Friday

  • Meanwhile, average EU-27 and UK exports of gasoline and blending components stood at 657,000 bpd this month, compared with 945,000 bpd in April, data from Kpler showed.

Trade

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Offer

Prev.

Seller

Buyer

Ebob Barges MOC Platts E5

(fob ARA)

$1179

$1141.00

BP

Trafigura

Ebob Barges E10 Platts (fob ARA)

Ebob Barges Argus E5 (fob ARA)

$1152.75 (24KT)

$1154.00 (32KT)

BP

TOTSA, Exxon

Ebob Barges E10 Argus (fob ARA)

$1152.00 (4KT)

$1132.50-$1153.00 (12KT)

TOTSA

Shell

June swap

$1147.25

$1110.75

Premium Unleaded (fob ARA)

Cargoes

(fob MED)


$1172, Balmo+$8



Cargoes (cif NWE)

Naphtha

(cif NWE)

Ebob crack (per barrel)

$27.42

Prev. $31.82

Brent futures

LCOc1

Rbob

RBc1

Rbob crack