Europe Gasoline/Naphtha-Margins hold near $7 amid Red Sea disruptions

Frontline

20/12/2023 18:01

LONDON, Dec 20 (Reuters) - Northwest European gasoline
refining margins were steady at about $7.2 a barrel on Wednesday
as tanker disruptions in the Red Sea continued.
    * A total of 8,000 metric tons of Eurobob E5 barges traded,
with
Shell and Varo selling to Trafigura, Sahara and Mabanaft.
Liquidity was sharply lower than the previous session's 14,000
tones. 
    * Shipping companies remain in the dark over a new
international
navy coalition being assembled by the United States to combat
attacks in the Red Sea, with many vessels continuing to avoid
the area or cancelling contracts, sources said on Wednesday.
    *         Finnish oil refiner and biofuels producer Neste
 NESTE.HE   expects to invest some 2.5 billion euros ($2.74
billion) to convert its Porvoo crude oil refinery to a biofuels
production facility, the company said on Wednesday.
      
    * European gasoline exports to the United States and West
Africa
are off to a slow start so far this month compared with
November's levels, LSEG analyst Raj Rajendran said.
    * Gasoline loadings in northwest Europe and the western
Mediterranean this month are estimated at 1.22 million metric
tons, down from 2.17 million tons last month, LSEG tracking
showed.


            Trades   Bids     Offers   Prev.    Sellers  Buyers
            (vol.)                     Trades            
 Ebob                                                    
 Barges                                                  
 MOC                                                     
 Platts E5                                               
 (fob ARA)                                               
                                                     
 Ebob                                                    
 Barges                                                  
 E10                                                     
 Platts(fo                                               
 b ARA)                                                  
 Ebob       $742                       $729-$7  Varo,    Trafigu
 Barges     (8KT)                      44       Shell    ra,
 Argus                                                   Mabanaf
 E5(fob                                                  t,
 AR)                                                     Sahara
 Ebob       $742                       $728,    Exxon,   Totsa
 Barges     (10KT)                     $745.50  Shell    
 E10 Argus                                               
 (fob AR)                                                
 Jan. swap  $748.50                    $742.50           
 fob ARA                                                 
 Premium                                                 
 Unleaded                                                
 (fob ARA)                                               
                                                     
 Cargoes                                                 
 (fob MED)                                               
 Cargoes                                                 
 (cif NWE)                                               
 Naphtha    MOP +$1                             Repsol   Trafigu
 (cif NWE)                                               ra
                                                       
 
     
 Ebob crack (per barrel)   $7.2           Prev. $7.2
 Brent futures              LCOc1 
 Rbob                       RBc1 
 Rbob crack                 RBc1-CLc1 
 
 (Reporting by Ahmad Ghaddar; Editing by Shweta Agarwal)
 ((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters
Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))