Europe Gasoline/Naphtha-Cracks hit one-month high as U.S. stocks set to fall

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 7 (Reuters) - Northwest European gasoline refining margins hit a one-month high of around $14.90 a barrel on Tuesday as U.S. gasoline stocks were forecast to have dropped steeply.
* U.S. crude oil and product inventories were expected to have decreased last week, a preliminary Reuters poll showed on Monday.
* Seven analysts polled by Reuters estimated on average that crude inventories fell by about 300,000 barrels in the week to March 3.
* Gasoline stocks fell by 1.9 million barrels, they forecast.
* Slashed output at Germany's Schwedt oil refinery demonstrates the difficulty Berlin faces in turning away from Russian oil, despite plans to work with Poland to find alternative supply.
* Three months after Warsaw and Berlin agreed to work together the refinery is running at 50-60% of capacity and those alternative supplies remain elusive.
* Gasoline held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area fell 2.3% to 1.42 million tonnes, Refinitiv 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.
* Colonial Pipeline Co is allocating space for Cycle 16 on Line 1, its main gasoline line, the company said in a notice sent to shippers on Tuesday. ? 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 $818-$8 Shell, Trafigur Barges 32.25 Total a, Argus (10KT) $816-$82 Mabanaft E5(fob 5.75 , Gunvor AR) (8KT)




Ebob $829.75
Barges (3kt
E10 assesse $830-$83
Argus d) 1 (6KT)
(fob AR)



April $853.25
swap fob
ARA $862.75




Premium $834 $840
Unleaded $843,
(fob $844 (11
ARA) barges)
<PU-10PP
-ARA>
Cargoes
(fob
MED)
Cargoes March March
(cif +$3, +6
NWE) +$5,


+10
Naphtha
(cif
NWE)
<NAF-C-N
WE>


Ebob crack (per barrel) $14.897 Prev. $11.770 Brent futures Rbob Rbob crack (Reporting by Noah Browning; Editing by Richard Chang)

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