Europe Gasoline/Naphtha-Gasoline cracks drop, U.S. stocks post surprise draw
LONDON, Oct 30 (Reuters) -Northwest European gasoline refining margins fell by over $1 to $5.6 a barrel on Wednesday as crude prices rose while data showed a surprise drop in U.S. inventories last week.
Some 5,000 metric tons of Eurobob E5 barges were traded. Gunvor and Varo sold to Litasco and BP.
No barges of Eurobob E10 traded.
U.S. gasoline stockpiles fell unexpectedly last week to a two-year low on strengthened demand, the Energy Information Administration (EIA) said on Wednesday.
Gasoline stocks fell by 2.7 million barrels in the week ending Oct. 25 to 210.9 million barrels, their lowest since November 2021. Analysts in a Reuters poll had forecast a 600,000-barrel build.
Gasoline supplied, a proxy for demand, rose to 9.2 million barrels per day from 8.8 million bpd a week earlier and marked its highest level since the week ending Oct. 4.
Nigeria's Dangote oil refinery has a stockpile of 500 million litres of petrol, its billionaire founder said, countering claims by marketers who asserted they needed to supplement Dangote's supplies with imports to meet fuel shortages.
Trade | Bid | Offer | Prev. | Seller | Buyer | |
Ebob Barges MOC Platts E5 (fob ARA) EUROBOB-ARA | ||||||
Ebob Barges E10 Platts (fob ARA) | ||||||
Ebob Barges Argus E5 (fob AR) | $655.75 | $660.50-664.75 | Gunvor, Varo | Litasco, BP | ||
Ebob Barges E10 Argus (fob AR) | $666.25 (assessed) | $657.75 (10 KT) | ||||
Nov swap (fob ARA) | $659.50 | $645.50 | ||||
Premium Unleaded (fob ARA) PU-10PP-ARA | ||||||
Cargoes (fob MED) | ||||||
Cargoes (cif NW E) | ||||||
Naphtha (cif NW E) NAF-C-NWE | Nov +$7 |
Ebob crack (per barrel) | $5.61 | Prev. $7.04 |
Brent futures | LCOc1 | |
Rbob | RBc1 | |
Rbob crack | RBc1-CLc1 | |
Reporting by Ron Bousso; Editing by Tasim Zahid
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