LONDON, March 10 (Reuters) - Northwest European gasoline refining profit margins ticked higher on Monday after falling to their lowest since October 2023 at the end of last week, LSEG data showed.
Refinery profit margins rose to around $4.70 a barrel on Monday, rebounding from their 17-month low of $2.95 on Friday.
A total of 5,500 metric tons of E5 gasoline barges traded, as Litasco and Musket sold to Glencore, Phillips 66 and Mabanaft.
A further 4,000 tons of Eurobob E10 traded, as TotalEnergies sold to Varo.
At least four U.S. gasoline marketers are preparing legal and regulatory challenges to the Colonial Pipeline over proposed changes in fuel shipping terms which the companies say will hurt their margins and drive up fuel prices at the pump, sources familiar with the discussions said.
Data last week showed a 12% week-on-week rise in gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp $(ARA)$ refining and storage hub, to a one-month high of 1.65 million tons, according to Dutch consultancy Insights Global.
Trade | Bid | Offer | Prev. | Seller | Buyer | |
Ebob Barges MOC Platts E5 (fob ARA) EUROBOB-ARA | ||||||
Ebob Barges E10 Platts (fob ARA) | ||||||
Ebob Barges Argus E5 (fob AR) | $619 (5.5KT) | $615.75 (6KT) | Litasco, Musket | Glencore, Phillips 66, Mabanaft | ||
Ebob Barges E10 Argus (fob AR) | $638 (4KT) | $633 (11KT) | Totsa | Varo | ||
April swap (fob ARA) | $671.25 | $674.75 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | ||||||
Cargoes (fob MED) | FOB Med + $5 | |||||
Cargoes (cif NWE) | ||||||
Naphtha (cif NWE) NAF-C-NWE | Apr +$6 | Balmo Mar +$4 | Mar + $1 |
Ebob crack (per barrel) | $4.70 | Prev. $2.95 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
(Reporting by Robert Harvey; Editing by Alan Barona)
((Robert.Harvey@thomsonreuters.com; +447552256587))
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