| LONDON, June 28
LONDON, June 28 Gasoline barge prices in
northwest Europe rose on Tuesday, following Brent crude oil
futures up as the market calculated the impact of the IEA's
decision to release some 3.4 million barrels of gasoline in
"It looks like (it will have a) very limited impact," said
one gasoline broker.
He pointed out that sales of gasoline components from
industry stocks would count as part of the gasoline release in
meeting the International Energy Agency's target.
A gasoline broker said it was pretty slow in the northwest
European market in the morning, but activity picked up in the
window for premium unleaded sales. Benchmark Eurobob remained
"It's been volatile recently, so it's difficult to trade,"
the gasoline broker said.
* One barge of benchmark Eurobob traded in the window, at
$954 a tonne fob ARA, up from Monday's range of $915-$918 a
tonne. Cargill sold the barge to Totsa.
* Some 8,000 tonnes of Eurobob traded ahead of the window,
at between $940-$952 a tonne fob ARA, rising as the day wore on.
* Mabanaft, Shell, BP and Cargill were sellers whilst
Gunvor, Morgan Stanley, Total and Vitol were amongst the buyers.
* Friday's levels were at $943-$945 a tonne fob ARA,
suggesting the market is recovering some of its nerve following
the IEA's announcement.
* There was a step up in activity in the premium unleaded
market, with some 23,000 tonnes trading. Prices rose to
$962-$964 a tonne fob ARA from $934 a tonne fob ARA on Monday.
* Mabanaft, Statoil and North Sea Group were sellers whilst
Totsa, Trafigura and Total were amongst the buyers.
* Eurobob's crack to dated Brent BFO- was up at about
$6.07 a barrel by 1600 GMT from about $4.62 a barrel on Monday.
* At 1538 GMT ICE Brent crude futures LCOc1 were up $2.06
at $108.05 a barrel, off an intraday high of $109.05.
* U.S. RBOB gasoline futures RBc1 in New York were up
2.59 percent to $2.8801 a gallon around the same time.
* The prompt RBOB crack RB-CL1=R was up at $26.17 a barrel
from $23.29 a barrel on Monday.
* There were no bids, offers, or deals in the physical
naphtha window on Tuesday.
* "The problem is divergent views of the market," said a
naphtha broker. "Sellers are very bullish and expect higher
premiums and buyers are bearish and think the market will get
* The July naphtha swap was at $890.25 a tonne cif NWE and
the August swap was at $894.43 a tonne cif NWE.
* The refining margin for naphtha for July was at about
minus $7.70 a barrel and for August it was at about minus $7.30
a barrel, a broker said.
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(Reporting by Claire Milhench; editing by Jason Neely)