off-the-wire

Europe Gasoline/Naphtha-Margins slip in thin trading activity

Kitco Media
By Reuters
Published:
Updated:
Reuters
Jan 31 (Reuters) - Northwest European gasoline refining margins fell to about $16.7 a barrel on Tuesday, but rising transatlantic exports limited losses.
* No gasoline barges traded on Monday.



* Northwestern European gasoline exports to the United States and West Africa gathered momentum last week backed by cheaper freight rates and renewed demand across the Atlantic, Refinitiv analysts said.
* Exports across the two major arbitrage routes of the United States and West Africa have risen to 1.86 million tons so far in January, up from 1.64 million tons in December. The increased flows raised European gasoline values leading to higher cracks and wider backwardation, they added.
* Electricity output


dropped in France on Tuesday and petrol product deliveries from TotalEnergies' sites stopped as workers walked off their jobs in protest at planned pension reforms.


* A price cap on imported Russian oil products is due to come into force on Feb. 5, along with an EU import ban on Russia's refined products.
* Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry.
* Demand for U.S. crude and petroleum products rose 178,000 barrels per day (bpd) in November to 20.59 million bpd, the highest since August, according to the U.S. Energy Information Administration Petroleum Supply Monthly report on Tuesday.
* A fire which broke out on Tuesday at Nynas AB's oil refinery in the Swedish city of Nynashamn on the Baltic Sea coast has been put out, the company said. Trades Bids Offers Prev. Sellers Buyers (vol.) Trades
Ebob Barges $871.00
MOC Platts
E5
(fob ARA)
<EUROBOB-ARA
>
Ebob Barges
E10
Platts(fob
ARA)
Ebob Barges Assesse $843 Assessed
Argus E5(fob d at
AR) at$838. $843.75


25
Ebob Barges Assesse $862.00,
E10 Argus d at $862.25
(fob AR) $853
Feb. swap $832.7 $839.00
fob ARA 5
Premium $917-$9 Trafigu Gunvor Unleaded 18 ra
(fob ARA)
<PU-10PP-ARA
>
Cargoes Feb.
(fob MED) +$10


(Falc


onara


)
Cargoes (cif
NWE)
Naphtha Feb Feb
(cif NWE) +$8 +$12 Ebob crack (per barrel) $16.7 Prev. $17.4 Brent futures Rbob Rbob crack (Reporting by Ahmad Ghaddar)

ahmad.ghaddar.thomsonreuters.com@reuters.net))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.