Europe Gasoline/Naphtha-Gasoline refining margins slip

Phillips 66
Exxonmobil Holdings Corporation
Shell Plc Sponsored ADR

Phillips 66

PSX

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Exxonmobil Holdings Corporation

XOM

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Shell Plc Sponsored ADR

SHEL

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- Northwest European gasoline refining margins eased by about $1 to $44.43 a barrel on Monday, remaining near a four-year high, as Yemen's Houthis announced a blockade on Saudi Arabia, threatening supplies through the Red Sea.

  • A total of 6,000 tons of Eurobob E5 barges traded on Argus, with BP, ExxonMobil and TotalEnergies selling to Gunvor.

  • A further 2,000 tons of Eurobob E10 barges traded, sold by Shell to BP, with Argus assessing an additional 1,000 tons.

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

  • Yemen's Iran-aligned Houthis said on Monday they were imposing a naval blockade on Saudi Arabia, a move that opens a new front against the United States in its war on Iran and widens the threat to global energy supplies and trade beyond the Gulf.

  • U.S. gasoline pump prices crossed the $4 a gallon mark on Monday as renewed hostilities with Iran further disrupt energy flows through the Strait of Hormuz, a critical route for global oil supplies.

  • India has no plans to raise the ethanol content in gasoline beyond the current 20%, junior oil minister Suresh Gopi said on Monday, amid fears of further increases and criticism that the blend reduces efficiency and vehicle performance.

  • China's June refined oil product exports improved from May, but still tumbled from the same period last year amid export restrictions that started mid-March to safeguard domestic supply in the wake of the Iran war.

Trade

Bid

Offer

Prev.

Seller

Buyer

Ebob Barges MOC Platts E5

(fob ARA)

$1114

Exxon

Trafigura

Ebob Barges E10 Platts (fob ARA)

Ebob Barges Argus E5 (fob ARA)

$1112.25 (6KT)

$1117.50 (15.90KT)

BP, Totsa, Exxon

Gunvor

Ebob Barges E10 Argus (fob ARA)

$1096.75 on 3KT (1KT assessed)

$1102.50 on 3KT (1KT assessed)

Shell

BP

August swap

$1021.25

Premium Unleaded (fob ARA)

Cargoes

(fob MED)

Aug +$64

Aug +$64

Cargoes (cif NWE)

Naphtha

(cif NWE)

Ebob crack (per barrel)

$44.43

Prev. $45.53

Brent futures

LCOc1

Rbob

RBc1

Rbob crack