Europe Gasoline/Naphtha-Gasoline refining margins dive
Shell SHEL | 0.00 |
LONDON, June 1 (Reuters) - Northwest European gasoline refinery margins fell sharply by $3.64 to $20.58 a barrel on Monday as a jump in underlying crude prices weighed.
About 8,000 metric tons of E5 gasoline barges traded in the Argus window as Trafigura and Equinor sold to Shell.
Around 3,000 tons of E10 gasoline barges changed hands, with Petroineos selling to Van Raak, alongside an assessed 1kt.
Oil prices surged more than $6 per barrel on Monday after Iran's Tasnim news agency reported that Tehran's negotiating team has halted message exchanges with the United States. The report added that Iran and its allied "Resistance Front" are considering measures to completely block the Strait of Hormuz and choking other waterways including the Bab el-Mandeb Strait. O/R
A drop in exports also weighed on European values.
EU-27 and UK gasoline and blending component exports averaged 811,000 barrels per day in March, compared with an average of 954,000 bpd in April, Kpler data showed.
|
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) |
$989.75 (8KT) |
|
|
$975.25 (18KT) |
Trafigura, Equinor |
Shell |
Ebob Barges E10 Argus (fob ARA) |
$998.25 on 3KT (1KT assessed) |
|
|
$972.75 (3KT assessed) |
Petroineos |
Van Raak |
July swap |
$979.75 |
|
|
$958.75 (June) |
||
Premium Unleaded (fob ARA)
|
|
|
|
|
|
|
Cargoes (fob MED) |
|
|
|
|
|
|
Cargoes (cif NWE) |
|
|
|
|
|
|
Naphtha (cif NWE)
|
|
|
|
|
|
|
Ebob crack (per barrel) |
$20.58 |
Prev. $24.22 |
Brent futures |
LCOc1 |
|
Rbob |
RBc1 |
|
Rbob crack |
|
|