LONDON, March 28 (Reuters) - Northwest European gasoline refining margins slightly declined Thursday to about $22.1 a barrel following a surprise rise in U.S. stocks.
- 8,000 metric tons of summer Eurobob E5 were traded, while no E10 barges changed hands.
- More than a fifth of global oil refining capacity is at risk of closure, energy consultancy Wood Mackenzie found in an analysis published on Thursday, as gasoline margins weaken and the pressure to reduce carbon emissions mounts.
- Russia's Kuibyshev mid-sized oil refinery near the city of Samara on the Volga River has halted all production following damage from a Ukrainian drone attack last week, two industry sources told Reuters on Thursday.
- U.S. crude oil and gasoline inventories rose unexpectedly last week, driven by higher crude imports and sluggish gasoline demand, the Energy Information Administration said on Wednesday.
- U.S. gasoline stocks rose by 1.3 million barrels in the week to 232.1 million barrels, the EIA said, as gasoline demand fell by about 94,000 barrels per day.
- "Despite market chatter of significantly decreased European supply in the coming weeks and months thanks to turnarounds at European refineries, much of this is well priced in already," analysts at Sparta Commodities said.
- "The impact on gasoline supply is likely to be at least partly mitigated by a softening of the distillates complex, with gasoline cracks now decidedly higher than diesel through April," they added.
- European gasoline exports were set to reach about 980,000 barrels per day in March, according to Kpler data, down from 1.19 million bpd in February.
Trade Bid Offer Prev. Buyer Seller
Ebob $907
Barges MOC Platts E5 (fob ARA)
Barges $911.2 -$911.5 Glencor Litasco Argus 5-$914 0 (6KT) e , E5(fob .25 Trafigu AR) ra
Ebob $904.5 $897.75 Barges 0 (4KT E10 Argus (asses winter;
(fob AR) sed) 10KT
summer)
Apr. swap $908.7 $898.25
(fob ARA) 5
Premium $927-$ $909-$9 Shell Varo, Unleaded 930 18 Trafigu (fob ARA) ra
- 5 Cargoes (cif NWE) Naphtha April April April (cif NWE) +$15 +$15 +$17
Ebob crack (per barrel) $22.17 Prev. $22.50 Brent futures LCOc1 Rbob RBc1 Rbob crack RBc1-CLc1
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