Europe Gasoline/Naphtha-Gasoline margins rebound from 15-month low

Reuters
01-17

LONDON, Jan 16 (Reuters) - Northwest European gasoline refining profit margins rose by around $1.50 to $5.49 per barrel on Thursday, despite gasoline inventories in the Amsterdam-Rotterdam-Antwerp $(ARA)$ hub reaching a fresh all-time high.

* Independently held gasoline stocks in the ARA trading and refining hub extended a record high of 1.54 million metric tons, up from 1.53 million tons, according to Dutch consultancy Insights Global.

* ARA gasoline exports reached their lowest since the Covid-19 pandemic in December at 485,000 barrels per day (bpd), as exports to Nigeria fell sharply, according to Kpler.

* About 4,000 metric tons of Eurobob E5 barges traded in the Argus window. Shell sold to Gunvor.

* A further 13,000 tons of E10 gasoline were traded.

* In the Platts window, Vitol sought a Mediterranean gasoline cargo. No trades were agreed as no buyers emerged.

Trade Bid Offer Prev. Seller Buyer

Ebob Barges $739.50

MOC Platts

E5

(fob ARA)

<EUROBOB-AR

A>

Ebob Barges

E10 Platts

(fob ARA)

Ebob Barges $727.50( $722 Shell Gunvor

Argus E5 4KT) (6KT)

(fob AR)

Ebob Barges $729 $721.25 Shell, Varo,

E10 Argus (13KT) (3KT) Sahara, Glenco

(fob AR) TotalEn re, BP

ergies,

ExxonMo

bil

Feb. swap $725 $739.50

(fob ARA)

Premium

Unleaded

(fob ARA)

<PU-10PP-AR

A>

Cargoes FOB

(fob MED) Med -

$1

Cargoes

(cif NWE)

Naphtha Jan - $4

(cif NEW)

Ebob crack (per barrel) $5.49 Prev. $3.92

Brent futures

Rbob

Rbob crack

(Reporting by Enes Tunagur; Editing by Vijay Kishore)

((Enes.Tunagur@thomsonreuters.com;))

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