LONDON: Gasoline refining margins in northwest Europe edged higher on Monday, supported by several outages on the US East Coast and ongoing seasonal refinery maintenance.
US gasoline margins jumped by more than 5 percent after news that the Colonial Pipeline was temporally cutting volumes on its main gasoline artery.
An explosion at BASF's Ludwigshafen site in Germany killed at least one and injured six. The blast occurred on a supply line connecting a harbour and a tank depot. BASF turned off 14 facilities, including its two steam crackers. Other companies have storage depots there too.
Monroe Energy works on a gasoline-making FCCU at its 190,000 bpd Trainer, Pennsylvania refinery following a restart failure last week, a source told Reuters. The unit will be shut for another two weeks.
Power failure at Suncor's 90,000 barrel per day Denver refinery led to a clay catalyst release, according to local US authorities and the company.
New Jersey Governor Chris Christie signed into law a gasoline tax hike of 23 cents a gallon. Lawmakers had agreed to increase the state gas tax, which had not been raised since 1988, to 37.5 cents per gallon to replenish a depleted fund that pays for transportation projects.
Brazil said it had no plans to increase fuel taxes, a day after state-run Petrobras announced a drop in fuel prices. The president's comments may dispel speculation the government would seek to increase taxes to make up for lost revenue.
GASOLINE
No barges of benchmark Eurobob gasoline traded.
Earlier in the day, around 12,000 tonnes traded at $503-510 a tonne fob ARA, compared to $508-$512 on Friday. * Gunvor, BP and Statoil were sold to Glencore, Total and Interchem. * No barges of premium unleaded gasoline were traded. Bids and offers were seen at a range of $519-$529 a tonne fob ARA.
The November swap stood at around $495.75 a tonne, up from $492.75 on Friday.
Gasoline barge refining margins rose to $11.54 a barrel, compared with $10.6 a barrel at the close on Friday. * Brent crude oil futures for December delivery were down 62 cents a barrel at $51.33 by 1638 GMT.
US November RBOB gasoline futures were down 0.06 percent at $1.4927 a gallon.
The US gasoline crack was trading at $13.01 a barrel, up from $11.93 a barrel on Friday. NAPHTHA * Glencore sold to BP one cargo at $433 a tonne for delivery Nov 7-11.
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