Europe Gasoline/Naphtha-Cracks rise after US stocks drop sharply

Kitco Media
By Reuters
Published:
Updated:
Reuters
May 10 (Reuters) - Northwest European gasoline refining margins rose to about $17.50 a barrel on Wednesday after a much larger than expected drop in U.S. inventories last week.


* U.S. gasoline stocks fell last week by 3.2 million barrels in the week to 219.7 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.2 million-barrel drop. ?
* Northwest Europe (NWE) April gasoline exports to its two main destinations, the United States and West Africa (WAF), fell to their lowest since July 2020 despite trans-Atlantic shipments rising to the highest since May 2022, said Refinitiv analyst Raj Rajendran.
* Northwest European exports in April on the transatlantic and West African routes were estimated at 1.63 million tonnes, down from 1.89 million tonnes exported last month, Refinitiv data showed.
* Exports from NWE to WAF in April tumbled to the lowest since March 2020 at 597,000 T, down from 1.45 million T in March. 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 $820.75
Barges (assess
Argus ed) $802.25
E5(fob (2KT)
AR)



Ebob Shell, Total, Barges Exxon BP E10 $805.25 $792-$80
Argus -$811 1
(fob AR) (18.1KT)




June $782.50
swap fob $756
ARA



Premium Trafigu Total Unleaded $800, ra
(fob $813-$8 $801 (9
ARA) 14 barges)
<PU-10PP
-ARA>
Cargoes June
(fob +$17
MED)
Cargoes
(cif
NWE)
Naphtha June
(cif -$4,
NWE) +$1
<NAF-C-N
WE>



Ebob crack (per barrel) $19.5 Prev. $15.7 Brent futures Rbob Rbob crack (Reporting by Ron Bousso; Editing by Kirsten Donovan)

email: ron.bousso@thomsonreuters.com Twitter: Tel.: +44 (0)207 542 2161 Reuters Messaging: ron.bousso.reuters.com@reuters.net))
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