Europe Gasoline/Naphtha-Margins slip as Red Sea attacks push oil higher

Frontline

18/12/2023 17:40

LONDON, Dec 18 (Reuters) - Northwest European gasoline
refining slipped by about $1 to $8.6 a barrel as underlying
crude prices rose 3% on mounting attacks on ships in the Red
Sea.
    * Varo and Glencore sold a Eurobob E5 barge each to
Trafigura. 
    * A total of 13,000 metric tons of Eurobob E10 barges
traded,
broadly in line with liquidity levels in the previous session.
    * 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
show.
    * Oil rose 3% on as mounting attacks by the Iran-aligned
Yemeni
Houthi militant group on ships in the Red Sea disrupted maritime
trade.
    * Oil major BP  BP.L  temporarily paused all transits
through the
Red Sea and oil tanker group Frontline  FRO.OL  on Monday said
its vessels will avoid passage through the waterway.


            Trades   Bids     Offers   Prev.    Sellers  Buyers
            (vol.)                     Trades            
 Ebob                                  $727.50           
 Barges                                                  
 MOC                                                     
 Platts E5                                               
 (fob ARA)                                               
                                                     
 Ebob                                  $728              
 Barges                                                  
 E10                                                     
 Platts(fo                                               
 b ARA)                                                  
 Ebob       $735.50                             Varo,    Trafigu
 Barges     (4KT)                               Glencor  ra
 Argus                                          e        
 E5(fob                                                  
 AR)                                                     
 Ebob       $727                                Shell,   Varo,
 Barges     11KT                                Exxon    Totsa
 E10 Argus                                               
 (fob AR)                                                
 Jan. swap  $741.25                    $725.25           
 fob ARA                                                 
 Premium                                                 
 Unleaded                                                
 (fob ARA)                                               
                                                     
 Cargoes                                                 
 (fob MED)                                               
 Cargoes                                                 
 (cif NWE)                                               
 Naphtha             Jan                                 
 (cif NWE)           +$14                                
                                                       
 
     
 Ebob crack (per barrel)   $8.6           Prev. $9.7
 Brent futures              LCOc1 
 Rbob                       RBc1 
 Rbob crack                 RBc1-CLc1 
 
 (Reporting by Ahmad Ghaddar; Editing by Mark Porter)
 ((Ahmad.Ghaddar@thomsonreuters.com; +442075424435; Reuters
Messaging: ahmad.ghaddar.thomsonreuters.com@reuters.net))