Europe Gasoline/Naphtha-Gasoline margins slide on inventory rise

Reuters
01-03

LONDON, Jan 2 (Reuters) - Northwest European gasoline refining profit fell by about $1.20 to $6.27 per barrel on Thursday as a rise in inventories of the motor fuel on both sides of the Atlantic weighed.

* About 4,000 metric tons of Eurobob E5 barges traded, which BP sold Trafigura and TotalEnergies.

* In the Platts window, BP also sold an E5 barge to Varo.

* A further 5,000 tons of Eurobob E10 traded, as Shell sold to Varo.

* Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp $(ARA)$ refining and storage hub rose by 4% to 1.41 million metric tons on slow trading activity, data from Dutch consultancy Insights Global showed.

* U.S. gasoline stocks also rose, gaining 7.7 million barrels on the week to 231.4 million barrels, the Energy Information Administration said, compared with analysts' expectations in a Reuters poll for a 0.3 million-barrel build.

Trade Bid Offer Prev. Seller Buyer

Ebob Barges $714 BP Varo

MOC Platts

E5

(fob ARA)

<EUROBOB-AR

A>

Ebob Barges

E10 Platts

(fob ARA)

Ebob Barges $694.75 $684 BP Trafig

Argus E5 on 4KT (4KT) ura,

(fob AR) Totsa

Ebob Barges $695.25 $686 Shell Varo

E10 Argus on 5KT (8KT)

(fob AR)

Feb. swap $710.50 $686.25

(fob ARA)

Premium

Unleaded

(fob ARA)

<PU-10PP-AR

A>

Cargoes

(fob MED)

Cargoes

(cif NWE)

Naphtha Jan

(cif NWE) +$6

Ebob crack (per barrel) $6.27 Prev. $7.47

Brent futures

Rbob

Rbob crack

(Reporting by Ahmad Ghaddar)

((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))

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