Europe Gasoline/Naphtha-Gasoline cracks drop as exports decline

LONDON, Nov 4 (Reuters) - Northwest European gasoline refining margins declined by $2 towards $5 a barrel as exports from the region eased.

* Some 22,000 metric tons of Eurobob E5 barges were traded. Gunvor, Litasco, Trafigura and TotalEnergies sold to Shell, Trafigura and Varo.

* A further 2,000 tons of Eurobob E10 barges were traded. Varo sold to BP.

* Chinese refiners are expected to reduce fuel output for the rest of the year and maintain lower run rates in the first quarter of 2025 despite a seasonal demand uptick, as profit margins and fuel consumption in road transport remain weak.

* South Korean refiners reported sharp losses in the third quarter from oil refining but expect their margins to recover in the fourth quarter with peak winter demand and refinery run cuts in Asia.

* Gasoline exports from northwest Europe and the west Mediterranean dropped by 3.3% in October from the previous month to around 2.08 million metric tons as the summer driving season reached its end, LSEG analyst Abdul Hadhi said.

* While exports to the U.S. East Coast were lower in October, shipments to West Africa rose by 38% in the month to 1.04 million tons, he added.

Trade Bid Offer Prev. Seller Buyer

Ebob

Barges

MOC

Platts E5

(fob ARA)

<EUROBOB-

ARA>

Ebob $691.25 Varo BP

Barges

E10

Platts

(fob ARA)

Ebob $683.50- $678-68 Litasc Trafigu

Barges $679.25 2.75 o, ra,

Argus E5 (12 KT) Trafig Varo,

(fob AR) ura, Shell,

Gunvor Petroin

, eos

Total

Ebob $679

Barges (10KT)

E10 Argus

(fob AR)

Nov swap $670 $660.75

(fob ARA)

Premium $672 (2

Unleaded barges)

(fob ARA)

<PU-10PP-

ARA>

Cargoes Nov FOB

(fob MED) Med

swap

+$9

Cargoes

(cif NW

E)

Naphtha 2H Nov 1H Nov

(cif NW +$8 +$6

E)

<NAF-C-NW

E>

Ebob crack (per barrel) $5.14 Prev. $7.13

Brent futures

Rbob

Rbob crack

(Reporting by Ron Bousso; Editing by Tasim Zahid)

((Robert.Harvey@thomsonreuters.com; +447552256587))