Europe Gasoline/Naphtha-Gasoline refining margins fall
LONDON, June 17 (Reuters) - Northwest European gasoline refining margins fell by $2.69 on Wednesday to $25.73 a barrel despite a drop in stockpiles, as U.S. President Donald Trump said his new ceasefire agreement with Iran was not final and he could resume the war if he was unsatisfied.
Around 6,000 metric tons of Eurobob E5 gasoline barges were traded in the Argus window, with Exxon selling to Varo and Gunvor.
An additional 13,000 tons of Eurobob E10 gasoline barges were also traded, with TotalEnergies and Shell selling to Varo, Trafigura and Exxon.
U.S. gasoline stockpiles fell 906,000 barrels in the week to June 12, the U.S. Energy Information Administration said. EIA/S
Europe is shipping less gasoline to the U.S. during peak summer driving season, as demand has been rising on the continent where supply has been cut by refinery closures and other disruptions from the Iran war, according to data, traders and analysts.
Russia is set to import fuel by sea this month as it seeks to manage a gasoline shortage following extensive drone attacks on its refineries, four industry sources said.
Brazil will end subsidies for diesel and gasoline if the price of crude oil stabilizes around $80 per barrel, the executive secretary of the Finance Ministry, Rogerio Ceron, told Reuters.
TotalEnergies' SATORP oil refinery in Saudi Arabia, which was hit by three drones in April, is still running only at 70% capacity and will not be fully repaired until early 2027, the company's Chief Executive Patrick Pouyanne said.
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Trade |
Bid |
Offer |
Prev. |
Seller |
Buyer |
Ebob Barges MOC Platts E5 (fob ARA)
|
$902 |
|
|
$908 |
BP |
Trafigura |
Ebob Barges E10 Platts (fob ARA) |
|
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|
|
Ebob Barges Argus E5 (fob ARA) |
$882.75 - $885.50 (6KT) |
|
$909.25-$915.75 (12KT) |
Exxon |
Gunvor, Varo |
|
Ebob Barges E10 Argus (fob ARA) |
$880.75 - $894.00 (13KT) |
|
$907.50-$908.00 (9KT) |
TotalEnergies, Shell |
Varo, Trafigura, Exxon |
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July swap |
$870.00 |
|
$873.25 |
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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) |
$25.73 |
Prev. $28.42 |
Brent futures |
LCOc1 |
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Rbob |
RBc1 |
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Rbob crack |
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