LONDON, April 17 (Reuters) - Northwest European gasoline refining margins rose above $24 a barrel on Wednesday, their highest since September 2023, after data showed a larger than expected drop in U.S. inventories.
- A total of 6,000 metric tons of Eurobob E10 traded, and another 4,000 metric tons of E5 traded.
- U.S. gasoline stocks fell last week by 1.2 million barrels to 227.4 million barrels, the EIA said, more than expectations for a 900,000-barrel draw.
- Stronger gasoline refining margins compared to those for producing diesel could lead refiners to shift more production towards gasoline, traders said.
- European gasoline exports in April are on track to reach 1.28 million barrels per day, Kpler data showed, up from 1.08 million bpd in March. Exports to West Africa this month are expected to reach over 300,000 bpd, broadly in line with March levels, the data showed.
- Russia has been able to swiftly repair some of its key oil refineries hit by Ukrainian drones, reducing capacity idled by the attacks to about 10% from almost 14% at the end of March, Reuters calculations showed.
- Russia's seaborne oil product exports fell 4.2% in March from the previous month to 10.178 million metric tons due to unplanned maintenance at refineries and a fuel export ban, data from industry sources and Reuters calculations showed.
Trade Bid Offer Prev. Buyer Seller EbobBarges MOC Platts E5 (fob ARA)
Ebob Barges E10 Platts(fo b ARA) Ebob $943, $951.25 Trafigu Gunvor, Barges $951.5 (10KT) ra Varo Argus 0E5(fob AR)
Ebob $941.5 $946.85 Shell, Exxon, Barges 0, (10KT) Gunvor Varo E10 Argus $951.7(fob AR) 5 May swap $934.5 $934 (fob ARA) 0
Premium $972-$ $968-$9 Vitol, Gunvor Unleaded 975 78 Shell (fob ARA)
Cargoes May (fob MED) +$10 Cargoes (cif NWE) Naphtha April (cif NWE) -$1 Ebob crack (per barrel) $23.14 Prev. $21.331 Brent futures LCOc1 Rbob RBc1 Rbob crack RBc1-CLc1
