Europe Gasoline/Naphtha-Cracks jump amid big crude sell-off

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 17 (Reuters) - Northwest European gasoline refining margins rose sharply to about $15.5 a barrel on Friday in thin trading activity and as underlying crude prices fell to a 15-month low.
* Oil prices took a dive on Friday, reversing early gains of more than $1 a barrel and falling by more than $3, as banking sector fears set crude on course for its biggest weekly decline in months.
* Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp refining and storage area fell slightly to 1.361 million tonnes on the back of transatlantic exports picking up as U.S. stockpiles are shrinking, data from Dutch consultancy Insights Global showed.
* TotalEnergies' Normandy refinery in northern France is currently operational, while its Donges refinery in western France is offline due to a technical problem with a fuse, a company spokesperson said.
* A union official had earlier said that Donges was blocked due to ongoing strike action against the government's planned pension reforms, and Normandy would be stopped this weekend.
* March northwest European gasoline exports so far stand at about 2.34 million tonnes, according to Refinitiv data. This compares with a revised 2.74 million tonnes in February and 3.45 million tonnes in January.
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Ebob crack (per barrel) $ Prev. $ Brent futures Rbob Rbob crack (Reporting by Ahmad Ghaddar; Editing by Susan Fenton)

Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))
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