off-the-wire

Europe Gasoline/Naphtha-Cracks firm as U.S. exports rebound

Kitco Media
By Reuters
Published:
Updated:
Reuters
April 17 (Reuters) - Northwest European gasoline refining margins rose to $20.10 a barrel on Monday on lower underlying crude prices and as exports from the region on transatlantic routes rebounded.
* Northwest European gasoline exports in March reached 2.45 million tonnes, according to Refinitiv research, with April shipments pegged at 1.38 million tonnes so far.


* Transatlantic gasoline shipments in March fell to a near three-year low in March due to poor arbitrage economics, the data showed, but exports along the route in April are rebounding.


* Shipments to the United States in April are already at 634,000 tonnes, far exceeding the 407,000 tonnes exported in March
* Several Asian refiners are likely to maximise gasoline output from May and reduce gasoil output, cashing in on higher profits for the motor fuel ahead of the peak summer driving season, industry sources and analysts say.
* Indian state refiners posted a 6.6% fall in gasoline sales at 1.14 million tonnes in the first half of April compared with the same period last month, preliminary sales data showed. Trades Bids Offers Prev. Sellers Buyers (vol.) Trades
Ebob $891 Trafigu Varo Barges ra
MOC
Platts
E5
(fob
ARA)
<EUROBOB
-ARA>
Ebob
Barges
E10
Platts(f
ob ARA)
Ebob $892.50 $898.75 Totsa, Gunvor, Barges (20KT) (10KT) Trafigu Varo, BP Argus ra,
E5(fob Glencor
AR) e
Ebob $900.75 $905-$91 Shell Exxon, Barges (4KT) 2 (16KT) Varo E10
Argus
(fob AR)
May swap $868.50 $883.50
fob ARA
Premium $928
Unleaded
(fob
ARA)
<PU-10PP
-ARA>
Cargoes
(fob
MED)
Cargoes
(cif
NWE)
Naphtha
(cif
NWE)
<NAF-C-N
WE>



Ebob crack (per barrel) $20.2 Prev. $19.4 Brent futures Rbob Rbob crack (Reporting by Ahmad Ghaddar; Editing by Shailesh Kuber)

ahmad.ghaddar.thomsonreuters.com@reuters.net))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.