Europe Gasoline/Naphtha-Cracks steady in thin trade

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 16 (Reuters) - Northwest European gasoline refining margins were broadly steady on Thursday in thin trade and as transatlantic exports remained subdued.
* U.S. gasoline stocks rose by 2.3 million barrels to 241.9 million barrels in the week to Feb. 10, the Energy Information Administration said on Wednesday.
* This far exceeded analysts' expectations in a Reuters poll for a 1.5 million-barrel rise.
* In nortwestern Europe, gasoline stocks were stable near highs last seen in August as exports to the United States continue at a low level, with more exports going to the Mediterranean and West Africa, according to Insights Global. .
* There were also rare exports from ARA to southeast Asia, Insights Global's Lars van Wageningen said, adding much naphtha was going into the gasoline blending pool and some was exported to the United States.
* Northwest European (NWE) gasoline exports to the United States are already expected to slow to four medium-range tankers this week from six last week.
* Total Northwest European (NWE) gasoline exports in February are set to reach 1.15 million tonnes so far, according to Refinitiv data, compared with a revised four-month high of 3.04 million tonnes in January.


* In refining news, oil major Shell's Pernis refinery in Rotterdam will undergo major maintenance from the start of March through to the end of May, the company said on Tuesday.
* German utility Uniper has agreed to sell its oil refinery DMCC in the United Arab Emirates to a consortium of Montfort and the private office of Sheikh Ahmed Dalmook Al Maktoum for an undisclosed sum, it said on Thursday.?
* Following the European Union ban on Russian oil product imports that came into effect on Feb. 5, a ship operated by Denmark's Maersk Tankers has been banned from Spanish ports, Spanish officials said. Its cargo of oil products was found to have previously been carried by a vessel that was formerly Russian flagged.
* Separately, the European Parliament on Tuesday formally approved a law to effectively ban the sale of new petrol and diesel cars in the European Union from 2035, aiming to speed up the switch to electric vehicles and combat climate change. Trades Bids Offers Prev. Sellers Buyers (vol.) Trades
Ebob Barges $806.
MOC Platts 00 $810
E5
(fob ARA)
<EUROBOB-ARA
>
Ebob Barges
E10
Platts(fob
ARA)
Ebob Barges $813.50 Vitol Petroine Argus E5(fob Vitol os AR) (2KT), $805.58


VWA (3KT,


$811.58 1KT


assessed


)




Ebob Barges $815.75 Total Varo, BP E10 Argus (3KT)
(fob AR) $811.42


(3KT,


1KT


assessed


)




March swap $802.25
fob ARA $802




Premium $854.00
Unleaded -$$855.
(fob ARA) 00 $869-872
<PU-10PP-ARA
>
Cargoes
(fob MED)
Cargoes (cif
NWE)
Naphtha March
(cif NWE) +$3 to


+$9
Ebob crack (per barrel) $11.99 Prev. $11.92 Brent futures Rbob Rbob crack (Reporting by Shadia Nasralla; Editing by Kirsten Donovan)

shadia.nasralla.reuters.com@reuters.net))
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