Europe Gasoline/Naphtha-Gasoline cracks dip lower

reuters11-14 02:02
Europe Gasoline/Naphtha-Gasoline cracks dip lower

LONDON, Nov 13 (Reuters) - Northwest European gasoline refining margins lost around 81 cents to $6 a barrel on Wednesday, amid expectations of a rise in U.S. gasoline inventories over the last week.

  • No Eurobob E10 barges traded on Wednesday.

  • A total of 13,000 metric tons of Eurobob E5 traded on Wednesday, with Gunvor, TotalEnergies and Litasco selling to Shell, Mabanaft, and Trafigura.

  • U.S. crude oil and product stockpiles were expected to have risen last week, an extended Reuters poll showed on Wednesday.

  • Analysts estimated stockpiles of gasoline USOILG=ECI rose by about 600,000 barrels last week.

  • U.S. weekly crude and fuel inventory data from the Energy Information Administration $(EIA)$ will be released on Thursday, a day later than the usual Wednesday publication, owing to the Veterans Day holiday earlier this week.

  • Gasoline exports from the EU and the UK in November to other regions are set to rise on the month to 985,000 bpd from 739,000 bpd in October, according to Kpler data.

  • The German cabinet on Wednesday approved reforms to restrict oil companies from carrying excess emissions reductions credits forward, in a step aimed at boosting the biofuel industry that was hit by a quick drop in carbon prices in recent years.

  • Russian Energy Minister Sergei Tsivilev said on Wednesday that the ministry believed it was possible to lift restrictions on gasoline exports as fuel prices have been stable, Interfax news agency reported.

  • Russia's seaborne oil product exports in October fell 7% from a month earlier to 8.861 million metric tons due to seasonal and unplanned maintenance at refineries, data from industry sources and Reuters calculations showed.

Trade

Bid

Offer

Prev.

Seller

Buyer

Ebob Barges MOC Platts E5

(fob ARA)

EUROBOB-ARA

$663

Ebob Barges E10 Platts (fob ARA)

Ebob Barges Argus E5 (fob AR)

$651.50-665.75 (13KT)

$661.50 (20KT)

Gunvor, TotalEnergies, Litasco

Shell, Mabanaft, Trafigura

Ebob Barges E10 Argus (fob AR)

$661.25 (3KT assessed)

$662 (4KT)

Dec swap (fob ARA)

$652

$654

Premium Unleaded (fob ARA)

PU-10PP-ARA

$679

Cargoes

(fob MED)

Dec +$16.50

Cargoes (cif NW E)

Naphtha

(cif NW E)

NAF-C-NWE

Balmo Nov +$1

Nov +$2; Nov +$6

Ebob crack (per barrel)

$6.00

Prev. $6.81

Brent futures

LCOc1

Rbob

RBc1

Rbob crack

RBc1-CLc1

(Reporting by Robert Harvey; Editing by Shailesh Kuber)

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

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