Europe Gasoline/Naphtha-Cracks steady just below $12/bbl amid weak exports

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 6 (Reuters) - Northwest European gasoline refining margins were broadly stable just under $12 a barrel on Monday as exports from the region remained subdued.
* Northwest Europe gasoline exports to the United States and West Africa in February fell to their lowest level since January 2022, Refinitiv data showed.
* February loadings dropped to 1.65 million tonnes, down from 2.2 million tonnes in January and 2.64 million tonnes in February 2022.
* Gasoline held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area fell 2.3% to 1.42 million tonnes, the data showed, even as exports to the United States and West Africa slowed down.
* U.S. gasoline stocks fell by 900,000 barrels in the week to 239.2 million barrels, EIA government data showed, compared with analysts' expectations for a 500,000-barrel rise.
* Top crude exporter Saudi Arabia raised prices for the flagship Arab light crude it sells to Asia for a second month in April, to $2.50 a barrel above the Oman/Dubai average, Aramco 2222.SE said on Sunday night.
* Poland's PKN Orlen will demand compensation after Russia halted oil deliveries to Poland via the Druzhba pipeline in late February, Chief Executive Officer Daniel Obajtek said on Monday, without giving further details.
* Russian oil refining grew by 0.2% month-on-month in February to about 779,000 tonnes per day, the Kommersant newspaper reported on Monday, citing industry sources.
* Rosneft's 100,000 barrel per day Komsomolsky oil refinery in Russia's Far East will stop selling gasoline and diesel starting from March 9 on a commodity exchange due to maintenance, traders said on Monday, amid the country's plans to reduce its crude oil output.? Trades Bids Offers Prev. Sellers Buyers (vol.) Trades
Ebob
Barges
MOC
Platts
E5
(fob
ARA)
<EUROBOB
-ARA>
Ebob
Barges
E10
Platts(f
ob ARA)
Ebob Shell Gunvor, Barges Varo Argus $816-$8 $814.25
E5(fob 25.75 (12.2
AR) (8KT) KT)






Ebob Shell, Gunvor, Barges P66 Varo, E10 $812.25 Total Argus $830-$8 (6KT)
(fob AR) 31


(6KT)





April
swap fob $851
ARA $862.75




Premium
Unleaded BP, (fob $843, Trafigu Total, ARA) $844 ra Sahara <PU-10PP (11
-ARA> barges)




Cargoes
(fob
MED) March


+$1


(Agioi


Theodor


oi)




Cargoes
(cif
NWE)
Naphtha
(cif
NWE) March March
<NAF-C-N +$4, +$3,
WE> +$7 +$10




Ebob crack (per barrel) $11.7 Prev. $11 Brent futures Rbob Rbob crack (Reporting by Shadia Nasralla; Editing by Sharon Singleton)

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