Europe Gasoline/Naphtha-Cracks rise, buying activity limited
LONDON, Nov 21 (Reuters) -Northwest European gasoline refining margins rose slightly to $8.50 a barrel on Tuesday as crude prices dropped and demand in the region remained weak.
Buying activity in the region remained low for both the barge and cargo markets as arbitrage opportunities to North America were limited, traders and brokers said.
Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by 3.6% in the week to Nov. 16, data from Dutch consultancy Insights Global showed.
Gasoline stocks stood at 1.38 million metric tons owing to restocking in the region and slower exports to the U.S. East Coast, said Insights Global's Lars van Wageningen.
Northwest European exports to West Africa jumped to 967,000 tons in October, up from 739,000 tons in September, and are expected to reach 891,000 tons in November, LSEG data shows.
Shipments from northwest Europe to the United States, however, eased to 542,000 tons in October from 724,000 tons in September and are expected to reach 638,000 tons for November, LSEG data shows.
Trades (vol.) | Bids | Offers | Prev. Trades | Sellers | Buyers | |
Ebob Barges MOC Platts E5 (fob ARA) EUROBOB-ARA | ||||||
Ebob Barges E10 Platts(fob ARA) | ||||||
Ebob Barges Argus E5(fob AR) | $767-$767.50 | $767.08 | Total | Shell, Exxon, Mabanaft | ||
Ebob Barges E10 Argus (fob AR) | $767 | $777 | Shell | Varo | ||
Dec. swap fob ARA | $748.25 | $758.25 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | $823 | $787 | ||||
Cargoes (fob MED) | ||||||
Cargoes (cif NEW) | ||||||
Naphtha (cif NWE) <NAF-C-NWE | Dec -$1 |
Ebob crack (per barrel) | $8.5 | Prev. $7.85 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
Reporting by Ron Bousso
Editing by David Goodman
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