Europe Gasoline/Naphtha-Gasoline refining margins hit 4-year highs as ARA stocks fall

Equinor ASA

27/08/2026 17:24

LONDON, Aug 27 (Reuters) - Northwest European gasoline refining margins reached their highest since mid-2022 at $46.74 a barrel on Thursday as gasoline inventories declined sharply in the Amsterdam-Rotterdam-Antwerp (ARA) hub.
About 13,000 metric tons of gasoline E5 barges traded, with Trafigura, Aramco and Equinor selling to MB Energy and Vitol.
Another 16,000 tons of gasoline E10 barges traded, with Exxon Mobil and Shell selling to Varo, MB and BP.
Gasoline stocks independently held in the ARA hub declined by around 14% on the week to 752,000 metric tons, their lowest level in nearly five years, data from Dutch consultancy Insights Global showed on Thursday. Higher exports and limited imports resulted in a stockdraw, Insights Global's Lars van Wageningen said, adding that Rhine water levels are increasing.
The gradual return of Middle East naphtha supply is unwinding the war-peak premium that was built through late July, Sparta Commodities analyst Jorge Molinero said, adding that arbitrage opportunities to Asia remained viable. 
The Russian Defence Ministry said on Thursday that its overnight strikes on Ukraine had struck steel-works in the cities of Zaporizhzhia and Kryvyi Rih, logistics centres in and near Kyiv, and three Ukrainian ports.
 
Trade
Bid
Offer
Prev.
Seller
Buyer
Ebob Barges MOC Platts E5
(fob ARA)
 
 
 
$1124
Ebob Barges E10 Platts (fob ARA)
 
 
 
 
 
Ebob Barges Argus E5 (fob ARA)
$1137 (13KT)
 
$1075.75 - $1081.50 (5KT)
Trafigura, Equinor, Aramco
Vitol, MB Energy
Ebob Barges E10 Argus (fob ARA)
$1138.50(16KT)
 
$1075.00 - $1105.75 (14KT)
Exxon Mobil, Shell
Varo, MB, BP
September swap 
$1086.50
 
$ 1067.25
Premium Unleaded (fob ARA)
 
 
Cargoes
(fob MED)
 
 
 
Cargoes (cif NWE)
 
 
 
 
 
 
Naphtha
(cif NWE)
 
 
 
 
 
 
 
     
Ebob crack (per barrel)
$46.74
Prev. $41.66
Brent futures
LCOc1
Rbob
RBc1
Rbob crack
 
     

 (Reporting by Enes Tunagur)
 ((enes.tunagur@thomsonreuters.com))