Europe Gasoline/Naphtha-Gasoline refining margins gain
LONDON, June 16 (Reuters) - Northwest European gasoline refining margins rose by $1.94 on Tuesday to $28.50 a barrel, as oil prices fell about 5% to a three-month low on hopes the U.S. and Iran would sign a deal soon to end their war and allow oil to flow through the Strait of Hormuz.
Around 12,000 metric tons of Eurobob E5 gasoline barges were traded in the Argus window, with ExxonMobil and Varo selling to MB Energy and Gunvor.
TotalEnergies sold 9,000 tons of Eurobob E10 gasoline barges to Varo.
U.S. President Donald Trump said text of the new ceasefire between the country and Iran would be made public soon, and the interim deal would extend the earlier ceasefire by another 60 days and reopen the Strait of Hormuz.
Talks of reopening the strait led to U.S. average retail gasoline prices falling below $4 a gallon for the first time since mid-April.
Asian gasoline margins have tumbled about 35% to around $24 a barrel over Brent crude from a record high of $43 in March, but that is still three times higher than pre-war levels.
Meanwhile, a Moscow oil refinery owned by Gazpromneft halted operations after a Ukrainian drone attack on Tuesday, two industry sources said. It produced 2.9 million tons of gasoline in 2024.
Russian oil producer Tatneft, the country's fifth-biggest oil company, is imposing restrictions on the sale of petrol and diesel at all its stations across Russia, news agency Interfax reported.
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Trade |
Bid |
Offer |
Prev. |
Seller |
Buyer |
Ebob Barges MOC Platts E5 (fob ARA)
|
$908 |
|
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|
BP |
Trafigura |
Ebob Barges E10 Platts (fob ARA) |
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Ebob Barges Argus E5 (fob ARA) |
$909.25-$915.75 (12KT) |
|
$921.75 (assessed) |
Exxon, Varo |
Gunvor, MB Energy |
|
Ebob Barges E10 Argus (fob ARA) |
$907.50-$908.00 (9KT) |
|
$916.50 (4KT) |
TotalEnergies |
Varo |
|
July swap |
$873.25 |
|
$902.50 |
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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) |
$28.50 |
Prev. $26.56 |
Brent futures |
LCOc1 |
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Rbob |
RBc1 |
|
Rbob crack |
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