Europe Gasoline/Naphtha-Gasoline cracks rise as EIA raises 2023-2024 demand forecasts

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 7 (Reuters) - Northwest European gasoline refining margins rose on Tuesday to about $13.29 a barrel as global oil demand was forecast by the main U.S. energy watchdog to rise this year and next while the market faced potential disruption from new international sanctions on Russian oil products which took effect on Sunday.
* The U.S. Energy Information Administration on Tuesday raised its 2023 world oil demand growth forecast by 60,000 barrels per day to 1.11 million bpd.
* In its monthly forecast, the agency raised its oil demand growth estimate for 2024 by 70,000 bpd to 1.79 million bpd.
* A tanker docked at Turkey's Ceyhan oil export hub on Tuesday to load Iraqi crude oil, the first since a series of earthquakes on Monday, ship tracking showed and a trading source said.
* The initial startup of a new crude distillation unit at Exxon Mobil Corp's 369,024 barrel-per-day (bpd) Beaumont, Texas, refinery is delayed until repairs are completed on a hydrotreater, sources familiar with plant operations said on Monday.
* The large coker at Motiva Enterprises 626,000-barrel-per-day (bpd) Port Arthur, Texas refinery is operating at reduced levels on Monday while repairs are underway to a heater that shut down on Sunday, people familiar with plant operations said.
Trades Bids Offers Prev. Sellers Buyers (vol.) Trades
Ebob Barges $779 (2
MOC Platts barges)
E5
(fob ARA)
<EUROBOB-ARA
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Ebob Barges
E10
Platts(fob
ARA)
Ebob Barges $800-$8 $774.25 Shell Mabaneft Argus E5(fob 05
AR) (3KT)
Ebob Barges $815 $778.50
E10 Argus (3KT
(fob AR) assesse


d)
March swap $800 $764
fob ARA
Premium
Unleaded
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Cargoes March
(fob MED) +$8
Cargoes (cif
NWE)
Naphtha Feb +$5 Repsol Stasco (cif NWE) Ebob crack (per barrel) $13.294 Prev. $11.724 Brent futures Rbob Rbob crack (Reporting by Noah Browning; Editing by Paul Simao)

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