LONDON: Gasoline refining margins in northwest Europe were little changed at above $10 a barrel on Tuesday, and were supported by seasonal refinery turnarounds and overseas demand.
Seasonal refinery turnarounds in Europe and other regions are limiting gasoline supplies and boosting margins.
Margins are also supported by demand to export the motor fuel from Europe to the US, with several new spot bookings emerging along the route in recent days.
Colonial Pipeline said on Monday it would cut shipping volumes while it works to restart the section of its main gasoline conduit that was damaged after its biggest leak of the fuel in nearly two decades in Alabama last month.
Naphtha supply are expected to lengthen following an incident on a petrochemical plant in Germany.
At least two people died and roughly two dozen were injured in an explosion at BASF's biggest German plant on Monday. BASF shut down more than 20 facilities, including its two steam crackers after the blast.
The plant consumes at least 150,000 tonnes a month of naphtha when fully operational, traders said.
India's fuel demand fell 0.7 percent y-o-y in September, with gasoline down 3.4 percent. * Registered fuel sales in Poland have risen 14 percent since the introduction of new legislation on Aug. 1 to curb black market sales, an industry body and the authorities said.
PBF plans to shut down its 65,000 barrel-per-day fluid catalytic cracking unit at its Delaware City refinery on March 3 for up to 45 days of planned work, according to a source familiar with the plant's operations.
GASOLINE
Vitol sold to Gunvor one barge of benchmark Eurobob gasoline at $498 a tonne fob ARA.
Earlier in the day, around 6,000 tonnes traded at $505-$508 a tonne fob Amsterdam-Rotterdam, compared with $503-510 a tonne on Monday.
Shell sold to Gunvor and Glencore, Interchem sold to Varo. * Gunvor sold to Total a barge of premium unleaded gasoline at $506 a tonne fob ARA, compared with bid and offer discussions the previous day at $519-$529 a tonne.
The November swap stood at around $495 a tonne, down from $495.75 a tonne on Monday. * Gasoline barge refining margins were little changed at $10.49 a barrel.
Brent crude oil futures for December delivery were down 8 cents a barrel at $51.44 by 1645 GMT. * US November RBOB gasoline futures were up 0.11 percent at $1.4940 a gallon. * The US gasoline crack was trading at $12.75 a barrel, down from $13.01 a barrel on Monday.
NAPHTHA
Glencore sold to Gunvor one cargo at $437 a tonne for Nov 8-12 delivery, up from $433 a tonne on Monday.
Comments
Comments are closed for this article.