Europe Gasoline/Naphtha-Gasoline margins end week higher

Reuters
12 Oct 2024

LONDON, Oct 11 (Reuters) - Northwest European gasoline refining margins rose by $2.79 on Friday to around $9.51 a barrel, ending the week nearly 30% higher despite a rise in ARA stocks on the week.

* A total of 22,000 metric tons of Eurobob E5 barges traded in the Argus window, with Trafigura and ExxonMobil selling to TotalEnergies, BP, Mabanaft and Litasco.

* Another 10,000 tons of Eurobob E10 traded, which ExxonMobil, Shell and Petroineos sold to TotalEnergies and Mabanaft.

* Nigeria's local fuel traders can now buy petrol directly from the Dangote Oil Refinery, ending state oil firm NNPC's exclusive buying rights as the country moves to fully deregulate its processing sector, the finance minister said on Friday.

* Markets digested the impact of Hurricane Milton on the U.S. state of Florida.

* Hurricane Milton moved into the Atlantic Ocean on Thursday after cutting a destructive path across Florida, killing at least 10 people and leaving millions without power. Florida is the third-largest gasoline consumer in the U.S., but there are no refineries in the state, making it dependent on waterborne imports.

* Hurricane Milton caused no major damage to Citgo's Tampa fuel terminal.

* Martin Midstream said its Tampa fuel terminal would resume full operations within days.

* Two people were killed in a chemical release at Pemex's 312,500-barrel-per-day (bpd) Deer Park oil refinery in Texas, the county sheriff said.

* Independently held gasoline inventories in the Amsterdam-Rotterdam-Antwerp $(ARA)$ refining and storage hub rose by nearly 13% to around 1.09 million tons in the week to Thursday, data from Dutch consultancy Insights Global showed.

* Exports of gasoline to the Americas picked up slightly on the week, van Wageningen said, but this was offset by a drop in shipments to West Africa.

Trade Bid Offer Prev. Seller Buyer

Ebob

Barges

MOC

Platts E5

(fob ARA)

<EUROBOB-

ARA>

Ebob

Barges

E10

Platts

(fob ARA)

Ebob $718.50 Trafigu Total,

Barges $741.50- -726 ra, Litasc

Argus E5 742 (24 KT) Exxon o,

(fob AR) Mabana

ft, BP

Ebob $747 (10 $739.50 Exxon, Total,

Barges KT) (10KT) Shell, Mabana

E10 Argus Petroin ft

(fob AR) eos

Nov swap $726 $712.75

(fob ARA)

Premium $754 Shell, Musket

Unleaded $768(7KT $(5KT.SI)$ BP

(fob ARA) )

<PU-10PP-

ARA>

Cargoes

(fob MED)

Cargoes $798

(cif NW

E)

Naphtha Oct. Trafigu Glenco

(cif NW Oct -$4/ 20-30 ra re

E) Oct -$2 -$4.50,

<NAF-C-NW Nov

E> swap

+$3

Ebob crack (per barrel) $9.51 Prev. $6.72

Brent futures

Rbob

Rbob crack

(Reporting by Robert Harvey; Editing by Tasim Zahid)

((Robert.Harvey@thomsonreuters.com; +447552256587;))

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