Europe Gasoline/Naphtha-Gasoline refining margins dive
LONDON, July 23 (Reuters) - Northwest European gasoline refining margins fell sharply by
$7.55 to $31.51 a barrel on Thursday as underlying crude prices surged above $100 a barrel on Middle East supply concerns.
A total of 16,800 metric tons of Eurobob E5 barges traded on Argus, with Shell, Exxon Mobil, Sahara, BP and Petroineos selling to Gunvor, MB Energy, Varo and Trafigura.
No Eurobob E10 barges traded.
Exxon Mobil also sold an E5 barge to Trafigura in the Platts window.
Oil product stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by 2.3% on the week, data from Dutch consultancy Insights Global showed on Thursday. ARA/
Total stocks stood at 4.05 million tons, their lowest since May 2014, the data showed.
Gasoline stocks were lower by 1% at 810,000 tons on steady exports to the U.S., Africa and the Mediterranean.
Nigeria's Dangote refinery has reversed its decision to sell fuel products to the local market in U.S. dollars, the company said in a statement on Thursday, bringing relief to consumers who feared this could lead to shortages of fuel.
|
Trade |
Bid |
Offer |
Prev. |
Seller |
Buyer |
Ebob Barges MOC Platts E5 (fob ARA) |
$1119 |
$1087 |
Exxon |
Trafigura |
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Ebob Barges E10 Platts (fob ARA) |
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Ebob Barges Argus E5 (fob ARA) |
$1107.75 (16.8KT) |
|
$1078.50 (7KT) |
Shell, Exxon, Sahara, BP, Petroineos |
Varo, Gunvor, Trafigura |
|
Ebob Barges E10 Argus (fob ARA) |
$1101.75 on 3KT (assessed) |
|
$1072.25 (4KT) |
Shell, Finco |
BP |
|
August swap |
$1068 |
|
$1043.50 |
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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) |
$31.47 |
Prev. $39.06 |
Brent futures |
LCOc1 |
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Rbob |
RBc1 |
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Rbob crack |
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