Gasoline profit margins jump
Northwest European gasoline profit margins gained about $2 to $12.17 a barrel on Wednesday.
A total of 4,000 metric tons of Eurobob E5 gasoline barges traded, with Trafigura selling to Aramco.
An additional 9,000 tons of Eurobob E10 barges traded as Shell, Gunvor and Glencore sold to Trafigura, ExxonMobil and Varo.
U.S. gasoline stocks (USOILG=ECI) fell by 2.7 million barrels in the week to 228.4 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 0.6 million-barrel draw, the Energy Information Administration said on Wednesday.
Japan's ruling coalition agreed on Wednesday with four major opposition parties to abolish a provisional gasoline tax at the soonest this year, as it gave in to pressure following a major election defeat.
EU and UK gasoline and blending component exports to other regions averaged 1.03 million barrels per day (bpd) in July, higher than the 892,000 bpd in June, Kpler data showed.
Trade | Bid | Offer | Prev. | Seller | Buyer | |
Ebob Barges MOC Platts E5 (fob ARA) (EUROBOB-ARA) | $730 (2KT) | Trafigura | Varo | |||
Ebob Barges E10 Platts (fob ARA) | ||||||
Ebob Barges Argus E5 (fob AR) | $718.25 (4KT) | $693.50 (4KT) | Trafigura | Aramco | ||
Ebob Barges E10 Argus (fob AR) | $715.75 (9KT) | $694.50 (4KT) | Shell, Glencore, Gunvor | Trafigura, ExxonMobil, Varo | ||
August swap (fob ARA) | $720.50 | $702.50 | ||||
Premium Unleaded (fob ARA) (PU-10PP-ARA) | ||||||
Cargoes (fob MED) | ||||||
Cargoes (cif NWE) | ||||||
Naphtha (cif NWE) (NAF-C-NWE) |