Europe Gasoline/Naphtha-Gasoline crack spreads edge lower
LONDON, Oct 15 (Reuters) -Northwest European gasoline refining margins dropped 81 cents to around $9.45 a barrel on Tuesday, after rising in the previous two sessions.
A total of 10,200 metric tons of Eurobob E10 barges traded in the Argus window on Tuesday, with ExxonMobil, Petroineos and Varo selling to TotalEnergies, BMV and Mabanaft.
A further 12,000 metric tons of Eurobob E5 traded. Trafigura was the only seller, with TotalEnergies, BP and Litasco buying.
"We see gasoline markets in the Atlantic basin constrained by rising supply in Nigeria, high inventories and unimpressive demand in key regions like the US and Brazil," Kpler analysts said in a post on social media network Linkedin.
"The return of idle refineries and lower Transatlantic arbitrage (profitability) could limit further European price increases," Sparta Commodities analyst Jorge Molinero said in a note published online.
Road fuel consumption fell by 2.6% on the year in France in September, according to data from UFIP, though consumption of premium gasoline rose 3.1% on the year.
Russia plans to take offline 4.4 million metric tons of refining capacity in October, an increase of 10% from an earlier plan, increasing the amount of crude oil available for export, Reuters calculations based on data from industry sources show.
Russia's seaborne oil product exports in September rose 5% to 9.217 million metric tons from a month earlier, data from industry sources and Reuters calculations showed.
Trade | Bid | Offer | Prev. | Seller | Buyer | |
Ebob Barges MOC Platts E5 (fob ARA) EUROBOB-ARA | ||||||
Ebob Barges E10 Platts (fob ARA) | ||||||
Ebob Barges Argus E5 (fob AR) | $706.25-706.50 (12KT) | $737.25 (14.2 KT) | Trafigura | Total, Litasco, BP | ||
Ebob Barges E10 Argus (fob AR) | $705.75 (10.4KT) | $741.25 (10KT) | Exxon, Petroineos, Varo | BMV, Mabanaft, Total | ||
Nov swap (fob ARA) | $679 | $710.75 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | $716-719 (11 KT) | $752-$754 (16 barges) | Shell, Gunvor, Trafigura, | Musket | ||
Cargoes (fob MED) | Nov FOB Med +$19 bbs Agioi Theodoroi | |||||
Cargoes (cif NW E) | ||||||
Naphtha (cif NW E) NAF-C-NWE |
Ebob crack (per barrel) | $9.45 | Prev. $10.26 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
Reporting by Robert Harvey
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