Europe Gasoline/Naphtha-Gasoline refining margins slip on higher stocks

Reuters
02-28
Europe Gasoline/Naphtha-Gasoline refining margins slip on higher stocks

LONDON, Feb 27 (Reuters) - Northwest European gasoline refining profit margins fell by $1.25 on Thursday to $7.22 a barrel as higher Atlantic basin stocks weighed.

  • A total of 10,700 metric tons of E10 gasoline barges traded, as Shell sold to Varo and BP.

  • A further 9,500 tons of Eurobob E5 traded, 4,000 tons of which changed hands in the Platts window, as Varo and Phillips 66 bought barges from TotalEnergies and Gunvor.

  • Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp $(ARA)$ refining and storage area rose marginally to 1.47 million metric tons in the week to Thursday, data from Dutch consultancy Insights Global showed.

  • U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration $(EIA)$ said on Wednesday.

  • U.S. gasoline stocks USOILG=ECI rose by 0.4 million barrels to 248.3 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 0.8 million-barrel draw.​

Trade

Bid

Offer

Prev.

Seller

Buyer

Ebob Barges MOC Platts E5

(fob ARA)

EUROBOB-ARA

$685 (4KT)

TotalEnergies

Varo

Ebob Barges E10 Platts (fob ARA)

Ebob Barges Argus E5 (fob AR)

$682 (4.5KT)

$685.50 (1KT)

Gunvor

Phillips66, Varo

Ebob Barges E10 Argus (fob AR)

$683 (10.7KT)

$681 (4KT)

Shell

Varo, BP

March swap (fob ARA)

$687.75

$681.25

Premium Unleaded (fob ARA)

PU-10PP-ARA

Cargoes

(fob MED)

March -$10, March -$6.50

Cargoes (cif NWE)

Naphtha

(cif NWE)

NAF-C-NWE

March 15-31 pricing +$6

Ebob crack (per barrel)

$7.22

Prev. $8.47

Brent futures

LCOc1

Rbob

RBc1

Rbob crack

RBc1-CLc1

(Reporting by Ahmad Ghaddar)

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

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