Cracks slip below zero as stocks rise
Benchmark northwest European gasoline barge refining margins slipped below zero on Friday, pressured by weak transatlantic exports and rising stock levels.
* Gasoline exports from northwest Europe to the United States have declined this week to 120,000 tonnes, down 25% on the week, according to Refinitiv analysis.
* Volumes are expected to decline further next week to 111,000 tonnes, according to Refinitiv.
* European gasoline stocks rose to 105.4 million barrels in November, up by 0.3% from October but down 2.8% on the year, data from Euroilstock showed on Friday. (O/EUROIL1)
* Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub declined slightly to 1.3 million tonnes on continued exports to West Africa even as exports to the United States slowed, Insights Global's Lars van Wageningen said.
* Last week, ARA gasoline stocks reached a three-month high at 1.36 million tonnes. (STK-GL-ARA)
Ebob Barges MOC Platts E5
Ebob Barges E10 Platts(fob ARA)
Ebob Barges Argus E5(fob AR)
No trade, assessed at $645.25
Ebob Barges E10 Argus (fob AR)
Jan. swap fob ARA
Premium Unleaded (fob ARA)
Cargoes (cif NWE)
Dec +$0, Jan +$5