LONDON: Gasoline margins were largely unchanged on Monday, supported by relatively firm demand to export European cargoes of the motor fuel to Asia Pacific.
Shipping reports showed increasing interest in vessels carrying gasoline and blending component from northwest Europe to China, with at least two tankers booked in recent days.
China's April refinery throughput fell to its lowest level on a barrel-per-day basis since September 2016 as some large state-owned refineries conducted planned maintenance and crude oil output continued to drop.
A draw in ARA regional stocks last week also underpinned margins.
Saudi Aramco has appointed a new senior vice president for downstream operations, a company statement said, while an industry source said other vice presidents were also appointed at a board meeting last week.
Nigerian oil firm Oando OANDO.LG said on Monday it was in talks to work with Italian energy company Eni to rehabilitate one of the West African nation's four refineries.
GASOLINE
No trades of benchmark Eurobob gasoline emerged during the afternoon trading window. There was a bid at $535 a tonne fob ARA.
Elsewhere, 8,000 tonnes changed hands at $534-$541 a tonne fob Amsterdam-Rotterdam, up from $528 a tonne on Friday.
There were no trades of premium unleaded gasoline. An offer emerged at $542 a tonne fob ARA, up from a trade on Friday at $529 a tonne.
The June swap stood at around $536.75 a tonne at the close, higher than Friday's $526 a tonne.
Brent crude futures were $1.33 a barrel higher at $52.17 a barrel by 1628 GMT.
Gasoline barge refining margins were at $13.22 a barrel, little changed.
US front-month RBOB gasoline futures RBc1 were 2.04 percent higher at $1.6083 a gallon.
The RBOB crack versus US crude stood at $18.35 a barrel, up from $18.47 a barrel on Friday.
NAPHTHA
Glencore sold a cargo cif NWE to Statoil at $443.50 a tonne.
Comments
Comments are closed for this article.