July 6, 2018 / 3:46 PM / 9 months ago

Europe Gasoline/Naphtha-Cracks end week lower on rising Asia supplies

LONDON, July 6 (Reuters) - Benchmark northwest European gasoline refining margins ended the week 3.8 percent lower, as rising supplies in Asia and weaker exports to the U.S. East Coast weighed.

* Global refining margins declined in all regions this week, particularly in Singapore, where they were down 39 percent, according to Jefferies.

* “Margins could very well be signalling decelerating global demand growth for refined products, with margins on a downward trajectory in all three regions on a 4-week rolling average basis,” Jefferies said.

* U.S gasoline stocks fell by 1.5 million barrels last week, against expectations in a Reuters poll for a 817,000-barrel drop.

* Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp refining and storage hub fell more than 5 percent to about 0.99 million tonnes in the week to Thursday, data from Dutch consultancy PJK International showed.

* Higher exports on transatlantic routes helped to push stock levels lower, said PJK’s Lars van Wageningen.

* The arbitrage from Europe to the U.S. East Coast is open. Exports from the region rose in recent days and are expected to reach about 1.2 million tonnes in July, traders said.


* No barges of Eurobob gasoline traded in the afternoon window. A bid emerged at $722 a tonne fob ARA.

* Elsewhere, 14,000 tonnes of Eurobob gasoline traded in a range of $708.50-$714.50 a tonne fob Amsterdam-Rotterdam, compared with trades at $712-$715 the previous day. Total and Prax sold to Shell and Hartree.

* There were no deals on barges of premium unleaded gasoline.

* The August swap stood at $713 a tonne at the close, down from $719 a tonne.

* The benchmark EBOB gasoline refining margin rose to $8.94 a barrel, from $8.35 a barrel.

* Brent crude futures were down 0.52 percent at $76.96 a barrel at 1515 GMT.

* U.S. front-month RBOB gasoline futures were down 0.65 percent at $2.1152 a gallon.

* The U.S. RBOB refining margin RBc1-CLc1 was down 7.34 percent at $15.28 a barrel.


* There were no trades. (Reporting by Ron Bousso; Editing by Mark Potter)

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