LONDON, Feb 2 (Reuters) - Northwest European gasoline refinery profit margins rebounded on Monday after a sharp drop last week, gaining $1.75 to about $7.94 a barrel.
About 8,000 metric tons of Eurobob E10 gasoline traded on barges in the Argus window, with Phillips 66 and Sahara selling to Varo and Gunvor.
A total of 15,700 tons of E5 gasoline barges traded on Argus, with BP and Equinor selling to Glencore, Gunvor and Varo.
A further 1,000 ton Eurobob E5 barge traded in the Platts window, which BP sold to Trafigura at $627 a ton.
Asian refiners' profits from producing gasoline plunged to their lowest in a year, pressured by prompt oversupply from key exporters in the region and swelling inventories at major trading hubs, traders and analysts said.
The United Steelworkers union said late on Saturday that it would extend talks with Marathon Petroleum MPC.N, averting a strike by 30,000 workers at U.S. refineries and chemical plants.
Meanwhile, EU-27 and UK gasoline and blending component exports to other regions have averaged 850,000 barrels per day in January, against 806,000 bpd over December.
Trade | Bid | Offer | Prev. | Seller | Buyer | |
Ebob Barges MOC Platts E5 (fob ARA) EUROBOB-ARA | $627 | BP | Trafigura | |||
Ebob Barges E10 Platts (fob ARA) | ||||||
Ebob Barges Argus E5 (fob ARA) | $617-625.25 (15.7KT traded) | $645.75 | BP, Equinor | Glencore, Gunvor, Varo | ||
Ebob Barges E10 Argus (fob ARA) | $619.50 (8KT traded) | $646.25 | Phillips66, Sahara | Varo, Gunvor | ||
Mar. swap (fob ARA) | $633.75 | $657.75 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | ||||||
Cargoes (fob MED) | ||||||
Cargoes (cif NWE) | ||||||
Naphtha (cif NWE) NAF-C-NWE |
Ebob crack (per barrel) | $7.94 | Prev. $6.19 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
(Reporting by Robert HarveyEditing by David Goodman)
((robert.harvey@thomsonreuters.com))
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