Europe Gasoline/Naphtha-Cracks end week lower amid weak exports

Kitco Media
By Reuters
Published:
Updated:
Reuters
May 12 (Reuters) - Northwest European gasoline refining margins dropped to $19.50 a barrel on Friday after sharp gains in regional stocks amid weak exports.


* Gasoline exports from Europe to the United States and West Africa remained low so far in May due to weak economics, Refinitiv analyst Raj Rajendran said in a note.
* Exports to the U.S. East Coast have reached 573,000 tonnes so far in May compared with a total of 1.05 million tonnes in April.
* Exports to West Africa are so far set at 160,000 tonnes, compared with a total of 633,000 the previous month, according to Refinitiv.
* Gasoline stocks in the Amsterdam-Rotterdam-Antwerp hub rose nearly 9% to 1.43 million tonnes in the week to Thursday amid slowing exports, data from Dutch Consultancy Insights Global showed.
* 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.
* Sour crude oil supplies for U.S. Gulf Coast oil refiners will be squeezed in coming weeks, market participants said, as global demand rises following this month's OPEC+ production cut. Trades Bids Offers Prev. Sellers Buyers (vol.) Trades
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Ebob crack (per barrel) $19.445 Prev. $21.6 Brent futures Rbob Rbob crack (Reporting by Ron Bousso. Editing by Jane Merriman)

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