Europe Gasoline/Naphtha-Cracks rise as U.S. demand anticipated

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 23 (Reuters) - Northwest European gasoline refining margins rose to $15.42 a barrel on Thursday despite a rise in European stocks as the market anticipated a fall in storage in the U.S. would drive demand.
* Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area rose by 6%, data from Dutch consultancy Insights Global showed on Thursday.
* Exports to the U.S. were lower and there were high flows of naphtha into the gasoline blending pool, said Insights Global's Lars van Wageningen.
* A drop in U.S. gasoline stocks this week means a surge of product is expected to move across the Atlantic, Insights Global added.
* Industrial action disrupting French refineries, LNG terminals, power supply and reactor maintenance stretched into a 16th day on Thursday as protests against the government's forced pension plan reform continue.
* U.S. gasoline stocks fell by 6.4 million barrels to 229.6 million barrels last week, Energy Information Administration data showed on Wednesday.
* That compared with expectations of a 1.7 million barrel drop in a Reuters poll of analysts.?
* Goldman Sachs on Thursday reiterated its bullish view on commodities as a banking crisis has yet to spill over into physical markets.
* Deputy Prime Minister Alexander Novak said a previously announced cut of 500,000 barrels per day (bpd) in Russia's oil production would be from an output level of 10.2 million bpd in February, the RIA Novosti news agency reported.


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 $763.25 $762.75 Totsa Trafigur Barges (3KT) (4KT) a Argus
E5(fob
AR)
Ebob $763.50 $767.25 Totsa Exxon Barges -$773 (3KT
E10 (4KT) assessed
Argus )
(fob AR)
April $817.25 $801.75
swap fob
ARA
Premium
Unleaded
(fob
ARA)
<PU-10PP
-ARA>
Cargoes
(fob
MED)
Cargoes
(cif
NEW)
Naphtha
(cif
NEW)
<NAF-C-N
WE>



Ebob crack (per barrel) $15.416 Prev. $14.017 Brent futures Rbob Rbob crack (Reporting by Noah Browning;Editing by Elaine Hardcastle)

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