Europe Gasoline/Naphtha-Gasoline cracks jump to around $10/bbl on summer switch

PUBLISHED: Mon, 29 Mar 2021 15:59:44 GMT

LONDON, March 29 (Reuters) – Benchmark northwest European gasoline margins jumped to around $10 a barrel on Monday, their highest since late 2019, as the assessment switched to summer-grade gasoline which is typically more expensive than winter grade. * Oil prices fell as a container ship that has blocked the Suez Canal for nearly a week was refloated and traffic in the waterway resumed, while fuel demand in Europe remained weak. * However, disruptions in the global shipping industry could take weeks and possibly months to clear, top container shipping lines said. * The Organization of the Petroleum Exporting Countries and its allies including Russia are expected to maintain lower output levels when they meet this week. * Chevron Corp has emerged as a leading contender to buy a Royal Dutch Shell Plc refinery in the U.S. Pacific Northwest, three people familiar with the matter said on Friday. * 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.​ Gasoline (in tonnes) Trades Bids Offers Prev. Sellers Buyers (vol.) Trades Ebob $612 $615 $609 Barges MOC Platts E5 (fob ARA) <EUROBOB -ARA> Ebob Barges E10 Platts(f ob ARA) Ebob $611.75 WINTER: Vitol, Mabanaf Barges to $567- Litasco t, BP, Argus $622.25 $580.25 BMW E5(fob AR) SUMMER: $601.25 Ebob WINTER: Barges $567.50 E10 Argus (fob AR) April $614.25 $611.50 swap fob ARA Premium $622-$624 $621 Litasco BP, Unleaded , BP Total, (fob Litasco ARA) <PU-10PP -ARA> Cargoes (fob MED) Cargoes $625(T (cif hames) NWE) Naphtha (cif NWE) <NAF-C-N WE> Ebob crack (per barrel) $10 prev. $7.1 Brent futures Rbob Rbob crack <RBc1-CLc1> (Reporting by Shadia Nasralla; Editing by Krishna Chandra Eluri)

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