LONDON: Gasoline refining margins in northwest Europe edged higher on Monday, supported by continued demand from the Middle East and West Africa.
Strong demand from the Middle East and West Africa has supported gasoline margins. Buying is expected to increase due to a large maintenance programme in March in the Middle East and Europe, traders said.
Barge traffic along the Rhine river between Cologne and Basel has stopped due to high water levels, which are expected to drop in the coming days, according to brokers Riverlake.
Phillips 66 shut a 182,000 bpd crude unit at its Wood River, Illinois, refinery on Monday for roughly four weeks of planned work, according to a source familiar with the plant's operations GASOLINE
Gunvor sold to Shell one barge of eurobob gasoline during the afternoon session at $622 a tonne fob ARA, compared with $615 a tonne on Friday.
Elsewhere, 4,000 tonnes traded at $616 and $620 a tonne fob ARA, compared with $616-$622.50 a tonne. Glencore sold to Petroineos and BP sold to Total.
Varo sold to Total three barges of premium unleaded gasoline at $643-$644 a tonne fob ARA, up from $640 a tonne in the previous session.
Total offered a fob Rijeka cargo at $622 a tonne.
The February swap stood at $623.75 a tonne at the close, up from $620 a tonne.
The benchmark EBOB gasoline refining margin edged higher to $5.58 a barrel from $5.24 a barrel.
Brent crude futures were up 3 cents at $67.65 a barrel by 1639 GMT.
US front-month RBOB gasoline futures were up 0.52 percent at $1.7950 a gallon.
The RBOB crack versus US crude <RBc1-CLc1> was up 2.43 percent at $13.89 a barrel.
Comments
Comments are closed for this article.