Europe Gasoline/Naphtha-Gasoline refining margins fall to near March-lows

By Reuters News

- Northwest European gasoline refining margins fell over $3 on Thursday, hovering near their lowest level since March, as stocks rose in Europe and Singapore.

  • Gunvor sold one Eurobob E5 barge to Sahara Energy, while Shell sold two Eurobob E10 barges to MB Energy and Varo in the Argus window.

  • Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose 22.7% to 868,000 metric tons. ARA/

  • In Singapore, light distillates inventories for gasoline climbed to a two-week high, with imports up to 314,000 tons over the week.

  • Seaborne imports of motor fuels to Russia rose by about 18% month-on-month in October to 430,000 metric tons, according to industry sources, LSEG data and Reuters calculations.

  • The main bulk of seaborne fuel imports into Russian ports this month consisted of gasoline supplied from India, Morocco and Turkey, traders said.

  • Japanese Prime Minister Sanae Takaichi said the government plans to raise its target gasoline price at the pump by 5 yen per litre each month from December towards next spring to keep in check rising expenses for fuel oil subsidies.

  • EU-27 and UK gasoline exports to other regions averaged 917,000 barrels per day so far in October, Kpler data shows, below an average of 1.06 million bpd last month.

Trade

Bid

Offer

Prev.

Seller

Buyer

Ebob Barges MOC Platts E5

(fob ARA)

Ebob Barges E10 Platts (fob ARA)

Ebob Barges Argus E5 (fob ARA)

$1047.50 (2KT)

$1071.25 (assessed)

Gunvor

Sahara Energy

Ebob Barges E10 Argus (fob ARA)

$1038.00-$1047.50 (4KT)

$1079 (assessed)

Shell

MB Energy, Varo

November swap

$1036.00

$1056.75

Premium Unleaded (fob ARA)

Cargoes

(fob MED)

flat $1082

Cargoes (cif NWE)

Naphtha

(cif NWE)

Ebob crack (per barrel)

$9.16

Prev: $12.28

Brent futures

Rbob

Rbob crack

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