Europe Gasoline/Naphtha-Gasoline refining margins hold steady

- Northwest European gasoline refinery margins held steady at $31.82 a barrel on Thursday, as lower oil prices helped offset the impact of low inventories.

  • About 32,000 metric tons of E5 gasoline barges traded in the Argus window as BP and Equinor sold to TotalEnergies.

  • An additional 12,000 tons of E10 gasoline barges changed hands, with Trafigura, Shell and Equinor selling to BP, Exxon and Varo.

  • The U.S. House passed legislation late on Wednesday that would permit fuel retailers to offer gasoline containing 15% ethanol year-round.

  • Brazil's government said it will provide a direct subsidy to gasoline producers and importers, and later to diesel, after a proposal to cut federal fuel taxes stalled in Congress.

  • Meanwhile, EU-27 and UK exports of gasoline and blending components stood at 473,000 bpd in May, compared with 945,000 bpd in April, data from Kpler showed.

Trade

Bid

Offer

Prev.

Seller

Buyer

Ebob Barges MOC Platts E5

(fob ARA)

$1141.00

$1163.00

BP

Trafigura

Ebob Barges E10 Platts (fob ARA)

Ebob Barges Argus E5 (fob ARA)

$1154.00 (32KT)

$1154.50 (20KT)

BP, Equinor

TOTSA

Ebob Barges E10 Argus (fob ARA)

$1132.50-$1153.00 (12KT)

$1147.75-$1168.50 (14.6KT)

Shell, Equinor, Trafigura

Exxon, Varo, BP

June swap

$1110.75

$1136.75

Premium Unleaded (fob ARA)

Cargoes

(fob MED)

$1172.00, Balmo+$8

Vitol, Glencore

Trafigura, Vitol

Cargoes (cif NWE)

Naphtha

(cif NWE)

Ebob crack (per barrel)

$31.82

Prev. $31.79

Brent futures

LCOc1

Rbob

RBc1

Rbob crack