Europe Gasoline/Naphtha-Margins slip ahead of Russian oil products sanctions

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 3 (Reuters) - Northwest European gasoline refining margins fell on Friday to around $13.90 a barrel as a U.S. stock build this week looked set to hit demand and ahead of an EU embargo and international sanctions on Russian oil products which threatened to upend global flows.
* The Kremlin on Friday said an EU embargo on Russia's refined oil products that will come into force on Sunday would further unbalance global energy markets.
* Lyondell Basell Industries plans to operate its Houston crude oil refinery at about 85% of its 263,776 barrel-per-day (bpd) capacity during the first quarter of 2023, the company said on Friday.
* Pemex is nearing a full restart on Thursday of its 312,500-barrel-per-day (bpd) Deer Park, Texas, refinery following an unplanned shutdown because of severe storms on Jan. 24, said people familiar with plant operations.


* Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area fell by almost 1% to 1.4 million tonnes in the week to Thursday, data from Dutch consultancy Insights Global showed.
* The fall came as a result of rising exports to the United States, it added.
* But northwestern European gasoline exports to the United States are expected to fall this week to 185,000 tonnes, down from 325,000 tonnes the previous week, according to Refinitiv analysis.
* U.S. gasoline stocks rose by 2.6 million barrels in the week ended Jan. 27 to 234.6 million barrels, the Energy Information Administration said on Wednesday. Trades Bids Offers Prev. Sellers Buyers (vol.) Trades
Ebob Barges $796 Trafigu Shell MOC Platts ra
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March swap $784.75 $806
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(cif NWE) Ebob crack (per barrel) $13.897 Prev. $15.642 Brent futures Rbob Rbob crack (Reporting by Noah Browning; Editing by Kirsten Donovan)

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