Gasoline ends week slightly higher
Benchmark northwest European gasoline barge refining margins ended the week slightly higher on Friday as operations at BP's Rotterdam refinery were set to resume.
Unions and BP have reached an agreement for workers at BP's large Rotterdam refinery, which had been largely idled this month amid a dispute over wages.
European Union governments tentatively agreed on Thursday on a $60 a barrel price cap on Russian sea borne oil - an idea of the Group of Seven (G7) nations - with an adjustment mechanism to keep the cap at 5% below the market price, according to diplomats and a document seen by Reuters.
Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area rose to their highest in three months in the week to Thursday, data from Dutch consultancy Insights Global showed.
Gasoline stocks rose 9% to 1.36 million tonnes on higher imports into the hub, particularly from other locations in northwest Europe, Insights Global's Lars van Wageningen said.
An Italian oil refinery controlled by Russia's Lukoil still sees scope to remain operational despite an EU embargo on Russian oil starting on Dec. 5, the company said, after Rome paved the way to place it in the hands of trustees.
Trades (vol.) | Bids | Offers | Prev. Trades | Sellers | Buyers | |
Ebob Barges MOC Platts E5 (fob ARA) (EUROBOB-ARA) | $779 | Gunvor | Varo | |||
Ebob Barges E10 Platts(fob ARA) | $760.75 (assessed) | |||||
Ebob Barges Argus E5(fob AR) | $761.50-$762 | $785 | Shell | Varo, BP | ||
Ebob Barges E10 Argus (fob AR) | $782.50 (4KT) | |||||
Jan. swap fob ARA | $726 | $745.25 | ||||
Premium Unleaded (fob ARA) (PU-10PP-ARA) | $832 | |||||
Cargoes (fob MED) | ||||||
Cargoes (cif NWE) | ||||||
Naphtha (cif NWE) (NAF-C-NWE) | Dec -$9 |
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