Europe Gasoline/Naphtha-Gasoline refining margins rise
LONDON, April 23 (Reuters) - Northwest European gasoline refinery profit margins gained $1.30 on Thursday despite a slight build in stocks.
A total of 15,000 metric tons of E5 gasoline barges traded in the Argus window, with Exxon, Equinor, Varo and BP selling to TotalEnergies.
One cargo of E10 gasoline traded in the Argus window, which Shell sold to Exxon.
Gasoline stocks held independently in the Amsterdam-Rotterdam-Antwerp refining and storage hub rose 7% on lower exports last week to 1.11 million tons, while naphtha saw a drop of around 10.5% on strong inland demand from the petrochemical sector. ARA/
Asian refining throughput is set to tumble in April and May as crude imports hit a 10-year low and the Iran war forces refiners to process lighter grades, curbing diesel and jet fuel output by at least 1 million barrels per day, analysts and refining sources said.
Early signs of a shift toward electric vehicles have emerged for U.S. car rental companies as customers become wary of paying more at the pump due to the conflict in the Middle East.
Meanwhile, EU-27 and UK exports of gasoline have reached 776,000 bpd so far in April, compared with an average of 947,000 bpd for the whole of March.
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Trade |
Bid |
Offer |
Prev. |
Seller |
Buyer |
Ebob Barges MOC Platts E5 (fob ARA)
|
$1060 |
|
$1044.00 |
Shell |
Trafigura |
|
Ebob Barges E10 Platts (fob ARA) |
|
|
|
|
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Ebob Barges Argus E5 (fob ARA) |
$1042.00-$1053.50 (15KT) |
$1004.50-$1005.00 (24KT) |
Exxon, Equinor, Varo, BP |
TOTSA |
||
Ebob Barges E10 Argus (fob ARA) |
$1042.50 (2KT + 1KT assessed) |
$1007.00-$1008.00 (4KT) |
Shell |
Exxon |
||
May swap |
$1043.50 |
$1029.25 |
||||
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)
|
|
Ebob crack (per barrel) |
$19.57 |
Prev. $18.27 |
Brent futures |
LCOc1 |
|
Rbob |
RBc1 |
|
Rbob crack |
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