tradingkey.logo

Europe Gasoline/Naphtha-Gasoline margins edge higher

ReutersJan 6, 2025 5:58 PM

- Northwest European gasoline refining profit margins edged up, while gasoline barge swap trading reflected expectations of higher prices in the coming months.

  • About 2,000 metric tons of Eurobob E5 barges traded, which BP sold to Vitol.

  • A further 6,000 metric tons of E10 traded. Shell sold barges to Varo.

  • In the Platts window, BP and Vitol sought Mediterranean gasoline cargoes, while Trafigura offered one. No trades were agreed.

  • Northwest European gasoline swaps remained in a contango structure, which typically incentivise storage on expectations of higher prices in the coming months.

  • EU-27 and UK gasoline exports reached 916,000 barrels per day in December, Kpler data showed, down from 1.2 million bpd in November.

  • EU-27 and UK gasoline exports to the U.S. dropped to 98,000 bpd in December, from 198,000 bpd in November, according to Kpler.

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)

$703 (2KT)

$703.25 on 4KT

BP

Vitol

Ebob Barges E10 Argus (fob AR)

$704 (6KT)

$702.65 on 10KT

Shell

Varo

Feb. swap (fob ARA)

$711.25

$710.75

Premium Unleaded (fob ARA)

PU-10PP-ARA

Cargoes

(fob MED)

Fob Med - $2

Fob Med + $3

Jan +$0.75

Cargoes (cif NWE)

Naphtha

(cif NWE)

NAF-C-NWE

Jan + $3

Ebob crack (per barrel)

$7.36

Prev. $7.22

Brent futures

LCOc1

Rbob

RBc1

Rbob crack

RBc1-CLc1

(Reporting by Enes Tunagur; Editing by Vijay Kishore)

((Enes.Tunagur@thomsonreuters.com;))

Disclaimer: For information purposes only. Past performance is not indicative of future results.