Europe Gasoline/Naphtha-Gasoline refining margins slide

By Reuters News

- Northwest European gasoline refining margins fell by $5.78 a barrel to $13.07 on Monday despite brisk trading activity, as exports were on track to drop.

  • In the Argus window, 16,000 metric tons of Eurobob E5 barges traded, with Exxon Mobil, Shell, Sahara and Equinor selling to TotalEnergies, BP, Aramco and MB Energy.

  • Another 8,000 tons of E10 barges changed hands with Shell selling to BP and Varo.

  • Shell also sold an E5 barge to Trafigura in the afternoon Platts trading window.

  • Russian refiners are raising diesel production in October after the government granted export quotas following the Kremlin's supply agreement with the United States, said two industry sources close to the matter.

  • October has been the worst month for attacks on commercial shipping in the Strait of Hormuz and nearby waterways, according to data compiled by a Washington-based think tank that has tracked maritime security incidents worldwide since 2017.

  • EU-27 and UK gasoline and component exports to other regions are on track to average 900,000 bpd so far in October, Kpler data showed, down from an average 1.03 million bpd for the whole of September.


Trade

Bid

Offer

Prev.

Seller

Buyer

Ebob Barges MOC Platts E5

(fob ARA)

$1112.00

Shell

Trafigura

Ebob Barges E10 Platts (fob ARA)

Ebob Barges Argus E5 (fob ARA)

$1088.50 (16KT)

$1115.00 - $1118.00 (12KT)

Exxon, Shell, Equinor, Sahara

TotalEnergies, MB Energy, Aramco, BP

Ebob Barges E10 Argus (fob ARA)

$1085.25 (8KT)

$1098.25 (3KT assessed)

Shell

Varo, BP

November swap

$1087.25

$1076.00

Premium Unleaded (fob ARA)

Cargoes

(fob MED)

Cargoes (cif NWE)

Naphtha

(cif NWE)

Ebob crack (per barrel)

$13.07

Prev: $18.85

Brent futures

Rbob

Rbob crack

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