Europe Gasoline/Naphtha-Gasoline refining margins jump

By Reuters News

- Northwest European gasoline refining margins rose over $3 on Monday to $11.43 as oil prices fell.

  • Gunvor sold one cargo of Eurobob E5 to TotalEnergies in the session.

  • Additionally, 10,000 metric tons of Europbob E10 traded in the session, with Gunvor and Exxon selling to Varo, TotalEnergies and MB Energy.

  • EU-27 and UK gasoline exports to other regions averaged 917883,000 barrels per day in October, Kpler data shows, below an average of 1.06 million bpd in September.

  • Oil prices fell over 7% as talks between Iranian and Qatari officials on ending the US-Israeli war with Iran lifted hopes for reduced Middle East supply disruptions, while Iran's president said the supreme leader had granted the government "certain authorities" regarding peace talks. O/R

  • Vietnam will cut its average retail electricity price by 2% and remove its special consumption tax on gasoline from November 1, the government said on Saturday.

  • Brazilian state-run oil firm Petrobras will adjust its refining mix in December, hiking gasoline production to meet the country's summer demand and cutting diesel output after the summer planting season, a director of the company said.

Trade

Bid

Offer

Prev.

Seller

Buyer

Ebob Barges MOC Platts E5

(fob ARA)

$1070.00

Ebob Barges E10 Platts (fob ARA)

Ebob Barges Argus E5 (fob ARA)

$981.00 (2KT)

$1055.50 (3KT assessed)

Gunvor

TotalEnergies

Ebob Barges E10 Argus (fob ARA)

$945.00 - $972.00 (10KT)

$1056.50 (3KT assessed)

Exxon, Gunvor

Varo, TotalEnergies, MB Energy

December swap

$941.25

$1048.50 (Nov)

Premium Unleaded (fob ARA)

Cargoes

(fob MED)

Nov balmo + $19

Cargoes (cif NWE)

Naphtha

(cif NWE)

Ebob crack (per barrel)

$11.43

Prev: $8.02

Brent futures

Rbob

Rbob crack

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