Europe Gasoline/Naphtha-Gasoline cracks soften on slower demand
LONDON, Nov 8 (Reuters) -Northwest European gasoline refining margins fell slightly to $5.82 a barrel on Friday as buying interest slowed and regional inventories rose.
Some 6,000 metric tons of Eurobob E5 barges were traded, down from 14,000 tons traded on Thursday. Litasco and Gunvor sold to Vitol, Shell and BP.
No barges of Eurobob E10 traded for a second consecutive session.
Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by 2.7%in the week to Nov. 7, data from Dutch consultancy Insights Global showed.
Falling water levels on the Rhine are limiting barge capacity to about 1,326 tons, brokers Riverlake said, added that levels were expected to fall further in the coming days before rising again with more rainfall from next week.
Gasoline exports from the EU and the UK in November to other regions are set to rise on the month to 1.12 million bpd from 737,000 bpd in October, according to Kpler data.
"A drop in European blending costs, led by light reformate premiums and a correction in Eurobob prices, has revitalised Europe's gasoline export appeal," said Jorge Molinero of Sparta Commodities.
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) | $669.75 (6KT) | $678.50 | Litasco, Gunvor | Vitol, BP, Shell | ||
Ebob Barges E10 Argus (fob AR) | $678.75 (assessed) | $689 (assessed) | ||||
Dec swap (fob ARA) | $666.75 | $677 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | ||||||
Cargoes (fob MED) | ||||||
Cargoes (cif NW E) | ||||||
Naphtha (cif NW E) NAF-C-NWE | Nov +$1 |
Ebob crack (per barrel) | $5.82 | Prev. $6.18 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
Reporting by Ahmad Ghaddar, Editing by Louise Heavens
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