LONDON: Northwest European gasoline cracks rose to near $12 barrel on Friday as hurricane Matthew battered the southeast of United States and boosted demand for cargoes from Europe.
The southeast United States is expected to be hit with fuel shortages in the aftermath of Hurricane Matthew, as the storm barrels toward one of the largest energy-consuming regions in the country.
Around ten tankers have been booked in recent days to load gasoline in Europe to go on transatlantic journeys, according to shipping data.
Strong West African demand is also underpinning gasoline margins in Europe.
Egypt has not received October allocations of petroleum aid from Saudi Arabia, traders told Reuters, forcing its state oil buyer to rapidly increase tenders even amid a severe dollar shortage and growing arrears to oil producers.
Egyptian General Petroleum Corp (EGPC) is seeking up to 132,000 tonnes of gasoline for delivery in November, traders say.
GASOLINE
No trades of benchmark Eurobob gasoline barges emerged during the afternoon window.
During the day, around 8,000 tonnes traded at $515-$521 a tonne fob Amsterdam-Rotterdam, up from $511 a tonne the previous day.
Rolympus sold six barges of premium unleaded gasoline at $523-$524 a tonne fob ARA. Total bought all but one which went to Shell.
The November swap stood at $499 a tonne at the close, up from $495.50 a tonne.
Gasoline barge refining margins rose to $11.72 a barrel from $10.43 a barrel on Thursday.
Brent crude oil futures for December delivery were down 40 cents a barrel at $52.11 by 1536 GMT.
US November RBOB gasoline futures were down 0.68 percent at $1.4876 a gallon.
The US gasoline crack was trading at $12.40 a barrel, little changed.
NAPHTHA
No cargoes traded.
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