Europe Gasoline/Naphtha-Gasoline profit margins slip on higher stocks

Reuters
07/18
Europe Gasoline/Naphtha-Gasoline profit margins slip on higher stocks

LONDON, July 17 (Reuters) - Northwest European gasoline profit margins fell by $1.36 a barrel on Thursday as inventories of the motor fuel rose on both sides of the Atlantic.

  • A total of 8,000 metric tons of Eurobob E5 gasoline barges traded, with BP, Trafigura and Exxon Mobil selling to TotalEnergies, Shell and Glencore.

  • An additional 10,000 tons of Eurobob E10 barges traded with TotalEnergies, Sahara and BP selling to Varo.

  • Gasoline stocks held independently in the Amsterdam-Rotterdam-Antwerp $(ARA)$ refining hub rose 5.5% to 1.2 million tons on the week, data from Dutch consultancy Insights Global showed on Thursday.

  • U.S. gasoline inventories rose in the week ended July 11, the Energy Information Administration said in its weekly report, prompting some concerns about fuel demand.

  • Gasoline stocks rose by 3.4 million barrels compared to expectations in a Reuters poll for a 1 million barrel draw.

  • EU and UK gasoline and blending component exports to other regions averaged 844,000 barrels per day (bpd) in July so far, lower than the 925,000 bpd in June, Kpler data showed.

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)

$696 (8KT)

$696.75-$698.75 (8KT)

Trafigura, BP, Exxon

Glencore, Shell, TotalEnergies

Ebob Barges E10 Argus (fob AR)

$697 (10KT)

$689.00-$698.25 (8KT)

TotalEnergies, Sahara, BP

Varo

August swap (fob ARA)

$695

$686.50

Premium Unleaded (fob ARA)

PU-10PP-ARA

Cargoes

(fob MED)

Cargoes (cif NWE)

Naphtha

(cif NWE)

NAF-C-NWE

+$2 with COD+$5

Ebob crack (per barrel)

$13.36

Prev. $14.72

Brent futures

LCOc1

Rbob

RBc1

Rbob crack

RBc1-CLc1

(Reporting by Ahmad Ghaddar; Editing by Sahal Muhammed)

((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))

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