Europe Gasoline/Naphtha-Gasoline refining margins firm further

- Northwest European gasoline refining margins rose over $1 to $28.20 a barrel on Friday, supported by tighter stocks and higher export demand.

  • Around 6,000 metric tons of Eurobob E10 gasoline barges were traded in the Argus window, with Totsa selling to Exxon across three deals.

  • Around 6,000 tons of Eurobob E5 gasoline barges were also traded, with BP selling to MB Energy and Totsa.

  • BP also sold an E5 to Trafigura in the Platts window.

  • Gasoline stocks held independently in the Amsterdam-Rotterdam-Antwerp refining and storage hub fell 8.5% on Thursday, data from Dutch consultancy Insights Global showed. ARA/

  • Gasoline stocks fell on the week to 1.04 million metric tons on higher exports and potentially the peak summer driving season slowly picking up, Insights Global's Rick Veringmeier said.

  • Oil shipments through the Strait of Hormuz picked up on Friday after the United States and Iran signed a ceasefire deal, with Gulf producers preparing to raise exports despite concerns over conditions set by Tehran for using the vital waterway.

  • EU-27 and UK gasoline and blending component exports to other regions have averaged 935,000 barrels per day so far this month, from an average of 886,000 bpd for the whole of May, Kpler data showed.



Trade

Bid

Offer

Prev.

Seller

Buyer

Ebob Barges MOC Platts E5

(fob ARA)

$931




BP

Trafigura

Ebob Barges E10 Platts (fob ARA)

Ebob Barges Argus E5 (fob ARA)

$914.25 (6KT)

$880.25 (7KT)

BP

MB Energy, Totsa

Ebob Barges E10 Argus (fob ARA)

$918 (6KT)

$883.50 (9.8KT)

Totsa

Exxon

July swap

$900.25

$863

Premium Unleaded (fob ARA)

Cargoes

(fob MED)

Cargoes (cif NWE)

Naphtha

(cif NWE)

Ebob crack (per barrel)

$28.20

Prev. $26.91

Brent futures

LCOc1

Rbob

RBc1

Rbob crack