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Europe Gasoline/Naphtha-Gasoline cracks drop as inventories rise

PUBLISHED: Fri, 26 Mar 2021 17:03:33 GMT

LONDON, March 26 (Reuters) – Benchmark northwest European gasoline margins dropped to $5.80 a barrel on Friday, as both regional and U.S. inventories rose, and oil prices climbed. * Oil prices rose more than 4% on concerns it could take weeks to dislodge a giant container ship blocking the Suez Canal. * Reeling from the blockage in the Suez Canal, shipping rates for oil product tankers nearly doubled this week, and several vessels were diverted away from the vital waterway as a giant container ship remained wedged between both banks. * Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by 2.4% to 1.41 million tonnes, helped by rising exports to West Africa, data from Insights Global showed. * U.S. gasoline stocks rose last week by 203,000 barrels to 232.3 million barrels, the Energy Information Administration said on Wednesday. * PBF Energy restarted the catalytic reformer on Friday at its 190,000 barrel-per-day (bpd) Chalmette, Louisiana, refinery after completing planned maintenance, said sources familiar with plant operations.​ Gasoline (in tonnes) Trades Bids Offers Prev. Sellers Buyers (vol.) Trades Ebob $609 $588 Litasco Shell Barges MOC Platts E5 (fob ARA) <EUROBOB -ARA> Ebob Barges E10 Platts(f ob ARA) Ebob WINTER: WINTER: Trafigu Gunvor, Barges $567- $555.5 ra, Total Argus $580.25 Litasco E5(fob SUMMER: AR) SUMMER: $605 $601.25 Ebob WINTER: Total Litasco Barges $567.50 E10 Argus (fob AR) April $611.50 swap fob ARA Premium $621 $600, Petroin BP Unleaded $605 eos, (fob Litasco ARA) <PU-10PP -ARA> Cargoes 1 cargo (fob (fob MED) Milazzo) Cargoes (cif NWE) Naphtha (cif NWE) <NAF-C-N WE> Ebob crack (per barrel) $5.759 prev. $7.006 Brent futures Rbob Rbob crack <RBc1-CLc1> (Reporting by Bozorgmehr Sharafedin; Editing by Edmund Blair)

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