LONDON: Gasoline barge cracks in northwest Europe rose sharply on Tuesday on strong export demand to West Africa and the United States.
Gasoline cracks jumped sharply last week as assessments changed to reflect the more expensive summer grade.
Reuters shipping data shows at least five tankers are due to load gasoline in northwest Europe promptly to go to West Africa. A further three tankers are expected to go on transatlantic journeys.
China's gasoline stocks the end of Feb. fell by 7.2 percent on high demand during the Lunar New Year holiday, according to the China Oil, Gas & Petrochemicals (OGP) newsletter.
Turkish refiner Tupras issued a tender to sell reformate or mixed aromatics for loading at the Izmir and Izmit refineries.
The buyer can load up to 22,000 tonnes from Izmit on April 21-24 and a further 12,000 tonnes from Izmir, according to the tender document.
GASOLINE
No eurobob barges traded during the Platts afternoon window.
Some 6,000 tonnes of summer-grade eurobob barges traded throughout the day at $455-$462 a tonne fob Amsterdam-Rotterdam. Discussions on Thursday for summer grade were at $444-$454 a tonne.
The trades were $7 a tonne below the April swap.
Winter grade gasoline traded $46-$60 a tonne below the April swap on Thursday.
There were no premium unleaded gasoline trades.
Bids and offers emerged at $473-$474 a tonne fob ARA, compared with trades on Thursday at $471-$476.
The April swap stood at $463 a tonne, down from $466.
Gasoline barge refining margins stood at $17.70 a barrel, up from $15.01 a barrel. Brent crude oil futures were down $1.25 at $39.02 a barrel at 1606 GMT.
US April RBOB gasoline was down 2.10 percent at $1.4372 a gallon.
The US gasoline summer crack stood at $23.41 a barrel, up from $22.73.
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