Northwest European gasoline refining margins fell slightly on Thursday to $15.10 a barrel even as stocks in Northwest Europe declined while naphtha stocks shot up.
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A total of 2,000 metric tons of Eurobob E5 barges traded, with BP selling to Exxon.
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No Eurobob E10 barges traded.
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Trading was thin as market participants concluded an annual energy conference in London.
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Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub declined 2.32% to 1.18 million tons, on the back of rising exports to West Africa and the U.S., according to data from Dutch consultancy Insights Global.
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Naphtha stocks jumped 26% to 460,000 tons, as poor demand from petrochemical facilities inland combined with slower gasoline blending activity, Insights Global’s Lars van Wageningen said.
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The Russian government confirmed on Thursday it will impose a six-month ban on gasoline exports from March 1 to keep prices stable.
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Global oil demand will grow by 1.9 million barrels per day (bpd) this year, according to a prediction by energy research company Wood Mackenzie.
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U.S. gasoline stocks fell last week for a fourth consecutive week, decreasing by 2.8 million barrels to 244.2 million barrels, nearly double forecasts for a 1.5 million-barrel draw, EIA data showed.
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Trade |
Bid |
Offer |
Prev. |
Buyer |
Seller |
|
|
Ebob Barges MOC Platts E5 (fob ARA) (EUROBOB-ARA) |
$831 |
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|
Ebob Barges E10 Platts(fob ARA) |
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|
Ebob Barges Argus E5(fob AR) |
$820.50 (2KT) |
$831.25 (2KT) |
BP |
Exxon |
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|
Ebob Barges E10 Argus (fob AR) |
$832.25 (assessed) |
$827.75, $829.50 |
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|
Mar. swap (fob ARA) |
$835.25 |
$827 |
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|
Premium Unleaded (fob ARA) (PU-10PP-ARA) |
$845 |
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|
Cargoes (fob MED) |
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Cargoes (cif NEW) |
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Naphtha (cif NEW) (NAF-C-NWE) |
