Europe Gasoline/Naphtha-Cracks rise as crude prices dip

Frontline

02/01/2024 18:09

LONDON, Jan 2 (Reuters) - Northwest European gasoline
refining margins rose to about $10 a barrel in the year's first
session as international crude prices slipped despite rising
geopolitical tensions.
    * Oil prices dipped as economic worries unravelled gains
from
concerns that tensions in the Red Sea could disrupt supplies.
    * China has issued its first refined fuel export quotas for
2024
totalling 19 million metric tons, a volume unchanged from last
year's and largely in line with market expectations, Chinese
consultancies and multiple trading sources said on Friday.
    * Gasoline stocks held in independent storage in the
Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub 
dropped by 6.5% in the week to 919,000 metric tons, data from
Dutch consultancy Insights Global showed on Thursday.
    * U.S. gasoline stocks  USOILG=ECI  fell by 669,000 barrels,
Energy Information Administration data showed on Thursday,
compared with analysts' expectations in a Reuters poll for a
208,000-barrel rise.


            Trades   Bids     Offers   Prev.    Sellers  Buyers
            (vol.)                     Trades            
 Ebob                                                    
 Barges                                                  
 MOC                                                     
 Platts E5                                               
 (fob ARA)                                               
                                                     
 Ebob                                                    
 Barges                                                  
 E10                                                     
 Platts(fo                                               
 b ARA)                                                  
 Ebob       $729.75                    $719.25  Shell    Gunvor
 Barges     on 4KT                     on 10KT           
 Argus                                                   
 E5(fob                                                  
 AR)                                                     
 Ebob       $713-73                    $717.50  Exxon,   Varo,
 Barges     3.50 on                    on 14KT  Shell    BP
 E10 Argus  8KT                                          
 (fob AR)                                                
 Jan. swap  $720.25                    $723.50           
 fob ARA                                                 
 Premium    $770-77                    $776-78  Petroin  Trafigu
 Unleaded   1                          0        eos      ra
 (fob ARA)                                               
                                                     
 Cargoes                                                 
 (fob MED)                                               
 Cargoes                                                 
 (cif NEW)                                               
 Naphtha                      Jan.                       
 (cif NEW)                    +$7                        
                                                       
 
     
 Ebob crack (per barrel)   $10.005        Prev. $7.930
 Brent futures              LCOc1 
 Rbob                       RBc1 
 Rbob crack                 RBc1-CLc1 
 
 (Reporting by Noah Browning
Editing by Mark Potter)
 ((noah.browning@thomsonreuters.com))