Europe Gasoline/Naphtha-Gasoline crack climb on lower stocks

Reuters
2024-10-18

LONDON, Oct 17 (Reuters) - Northwest European gasoline refining margins rose by about 90 cents to $11 a a barrel on Thursday, buoyed by fall in Atlantic basin inventories.

* A total of 8,000 metric tons of Eurobob E5 barges traded in the Argus window on Wednesday, with Trafigura and Musket selling to TotalEnergies, BMV, Mabanaft and BP. This was down sharply from the 24,000 tons that traded on Wednesday.

* Shell sold one barge of Eurobob E10 to Varo, following a quiet session on Wednesday.

* Independently held refined oil products stocks in storage in the Amsterdam-Rotterdam-Antwerp $(ARA)$ refining and storage were broadly steady in the week to Thursday, data from Dutch consultancy Insights Global showed.

* Total inventories reached 6.23 million metric tons by Thursday, the data showed, from 6.22 million tons the previous week.

* Gasoline inventories meanwhile fell by about 4% to around 1.05 million tons on higher inland demand, Lars van Wageningen of Insights Global said.

* Meanwhile, U.S. gasoline stocks fell by 2.2 million barrels last week to 212.7 million barrels, the Energy Information Administration said, compared with analysts' expectations in a Reuters poll for a 1.5 million-barrel draw.​

* A fire broke out on a crude distillation unit at Germany's Neustadt oil refinery on Oct. 16, operator Bayernoil said in a statement, adding that it was extinguished within minutes. The impact on production was not immediately clear.

* EU and UK gasoline exports are set reach 621,000 barrels per day this month according to the latest data from Kpler, compared with 1 million bpd in September.

Trade Bid Offer Prev. Seller Buyer

Ebob

Barges

MOC

Platts E5

(fob ARA)

<EUROBOB-

ARA>

Ebob

Barges

E10

Platts

(fob ARA)

Ebob $714.50 $709.50 Trafig Total,

Barges (8KT) (24KT) ura, BMV,

Argus E5 Musket BP,

(fob AR) Mabanaf

t

Ebob $706.50 $708.25 Shell Varo

Barges (1KT (3KT

E10 Argus assessed assesse

(fob AR) ) d)

Nov swap $682.75 $682.75

(fob ARA)

Premium $725 (7 $719-72 BP, Musket

Unleaded barges) 3 (29 Gunvor

(fob ARA) barges) ,

<PU-10PP- Trafig

ARA> ura,

Cargoes

(fob MED)

Cargoes

(cif NW

E)

Naphtha Nov +$5 Nov

(cif NW +$3,

E) Oct

<NAF-C-NW -$4.5,

E> Oct -$2

Ebob crack (per barrel) $10.11 Prev. $10.13

Brent futures

Rbob

Rbob crack

(Reporting by Ahmad Ghaddar; Editing by Tasim Zahid and Hugh Lawson)

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

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