off-the-wire

Europe Gasoline/Naphtha-Cracks firm as U.S. stocks drop sharply

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 22 (Reuters) - Northwest European gasoline refining margins rose to $14.90 a barrel on Wednesday, supported by a big fall in U.S. inventories of the motor fuel while operations at French refineries remained disrupted by industrial action.
* U.S. gasoline stocks fell by 6.4 million barrels to 229.6 million barrels last week, Energy Information Administration data showed. That compared with expectations of a 1.7 million barrel drop in a Reuters poll of analysts.?
* TotalEnergies' had 38% of operational staff at the oil major's French refineries and depots on strike on Wednesday morning, a spokesperson said.
* The production situation at the group's refineries was unchanged, with the Gonfreville refinery in Normandy shut down.
* France started tapping into its strategic fuel reserves, the government said.
* Monroe restarted a fluid catalytic cracker (FCC) unit after a fire at its 190,000 barrel per day Trainer refinery in Pennsylvania, a source familiar with the matter said on Tuesday.
* Energy trader Gunvor made a strong profit last year and is looking to expand its oil trading and develop a significant power trading arm in the United States, its CEO told Reuters.
* On the oil side, the company will start gasoline blending operations in the United States in addition to similar operations it has in Rotterdam and Asia.


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Ebob
Barges
MOC
Platts
E5
(fob
ARA)
<EUROBOB
-ARA>
Ebob
Barges
E10
Platts(f
ob ARA)
Ebob $762.75 $742.50- Totsa Trafigur Barges (4KT) $747.75 a Argus
E5(fob
AR)
Ebob $767.25
Barges (3KT
E10 assesse
Argus d)
(fob AR)
April $801.75 $783.50
swap fob
ARA
Premium $792
Unleaded
(fob
ARA)
<PU-10PP
-ARA>
Cargoes
(fob
MED)
Cargoes 1H
(cif April
NEW) +$5
Naphtha
(cif
NEW)
<NAF-C-N
WE>



Ebob crack (per barrel) $14.90 Prev. $14 Brent futures Rbob Rbob crack (Reporting by Ahmad Ghaddar Editing by David Goodman )

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