News: Europe Gasoline/Naphtha-Gasoline margins end week lower as stocks rise

LONDON, Aug 23 (Reuters) - Northwest European gasoline refining margins ended the week at $10.30 a barrel, their lowest since late January after regional stocks rose and as peak driving season draws to an end.

• No Eurobob E10 barges traded in the Argus window.
• About 12,000 metric tons of Eurobob E5 traded. Trafigura and Total sold to BP, Glencore and Varo Energy.
• Independently held refined oil products stocks in storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by 3.2% in the week to Thursday, driven by higher middle distillate stocks, data from Dutch consultancy Insights Global showed.
• Gasoline was the only product where stocks fell, dropping 4.5% on the week to 950,000 tons.
• Gasoline stocks fell as poor blending economics hampered blending activity in ARA tanks, Insights Global's Lars van Wageningen said. Activity could also be dipping as traders anticipate the end of the summer driving season, he added.
• Meanwhile, U.S. gasoline stocks USOILG=ECI fell by 1.6 million barrels in the week to 220.6 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 0.9 million-barrel draw.​
• Stocks on the Atlantic coast fell by 1.1%, breaking a three-week run of stock builds. Rising stocks on the Atlantic coast could be impacting European exports, according to Jorge Molinero of Sparta Commodities.
• "The decline in gas-naphtha continues to damage blending margins, and east coast inventories do not forecast large volumes to New York Harbor in the short term," he said.
• EU and UK gasoline exports to all destinations have reached 1.08 million barrels per day (bpd) so far this month, just below July's 1.19 million bpd, Kpler data showed.

			Trade	 Bid	  Offer	Prev.	Seller   Buyer 
 Ebob				 $756								 

Barges MOC Platts E5 (fob ARA) Ebob Barges E10 Platts(fo b ARA)

 Ebob	   $738.50-					$735.75  Trafigu  BP, 
 Barges	 $740						(9.9KT)  ra,	  Glenco 
 Argus										   Total	re, 

E5(fob Varo AR)

 Ebob	   $748.50					 $736.00			
 Barges	 (assesse					on 3KT			 
 E10 Argus  d)						  (assess			

(fob AR) ed) Sept swap $745.75 $733.50 (fob ARA) Premium $739 Unleaded (fob ARA) Cargoes (fob MED) Cargoes (cif NW E)

 Naphtha			  Sept	 Sept						
 (cif NW			  +$5	  +$11						
 E)														

Ebob crack (per barrel) $9.92 Prev. $10.12 Brent futures LCOc1 Rbob RBc1 Rbob crack RBc1-CLc1