Europe Gasoline/Naphtha-Gasoline profit margins rise on US stock draw

Reuters02:05

LONDON, Nov 14 (Reuters) - Northwest European gasoline refining margins gained 44 cents to $6.44 a barrel on Thursday, as regional inventories rose while US stocks fell unexpectedly.

* A total of 17,000 metric tons of Eurobob E5 traded on Thursday, up from 13,000 tons in the previous session. Gunvor, TotalEnergies and Trafigura sold to Shell, BP, and Petroineos.

* Another 6,000 tons of Eurobob E10 barges traded, as Petroineos and Shell sold to Gunvor and Varo.

* U.S. gasoline inventories fell to their lowest levels in two years as fuel supplies drew down unexpectedly last week amid strong demand, the Energy Information Administration $(EIA)$ said on Thursday.

* Gasoline stocks fell 4.4 million barrels in the week to Nov. 8 to 206.9 million barrels, their lowest since November 2022, compared with analysts' expectations in a Reuters poll for a 600,000-barrel build.

* Meanwhile, gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp $(ARA)$ refining and storage hub rose by 3.7% to 1.16 million metric tons in the week to Thursday to their highest since April, data from Dutch consultancy Insights Global showed.

* Gasoline exports from the EU and the UK in November to other regions are set to rise on the month to 1.08 million bpd from 776,000 bpd in October, according to Kpler data.

* U.S. refiner margins for gasoline and diesel will be relatively unchanged next year, the U.S. Energy Information Administration said on Wednesday, signaling relief for fuel producers who saw profits slump sharply since 2022 on slowing demand growth.

* The International Energy Agency expects OECD European gasoline demand to grow by 90,000 bpd this year, slightly below last year's 100,000 bpd figure, it said in its monthly oil market report on Thursday.

Trade Bid Offer Prev. Seller Buyer

Ebob $668

Barges

MOC

Platts E5

(fob ARA)

<EUROBOB-

ARA>

Ebob

Barges

E10

Platts

(fob ARA)

Ebob $659.50 $651.5 Gunvor Shell,

Barges (17KT) 0-665. , BP,

Argus E5 75 TotalE Petroi

(fob AR) (13KT) nergie neos

s,

Trafig

ura

Ebob $664 $661.2 Petroi Gunvor

Barges (6KT) 5 (3KT neos, , Varo

E10 Argus assess Shell

(fob AR) ed)

Dec swap $657.50 $652

(fob ARA)

Premium $662 Petroi TotalE

Unleaded neos nergie

(fob ARA) s

<PU-10PP-

ARA>

Cargoes

(fob MED)

Cargoes

(cif NW

E)

Naphtha Balmo

(cif NW Nov

E) +$1

<NAF-C-NW

E>

Ebob crack (per barrel) $6.44 Prev. $6

Brent futures

Rbob

Rbob crack

(Reporting by Ahmad Ghaddar; Editing by Vijay Kishore)

((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))

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