RTRS: Europe Products-Gasoline at highs, partly on exports to U.S.
LONDON, Jan 12 (Reuters) - European gasoline barge prices
remained at 28-month highs on Wednesday at between $862-$866 a
tonne, supported by exports to the United States and tightness
in the Mediterranean basin.
Fire fighters reported a blast followed by a spill of oil
products at a petrochemical site in Fos-Lavera, the second
incident in less than a week. [ID:nLDE70B0WX]
Supply could also be tight as Greece's second-biggest
refiner, Motor Oil, plans to shut its sole refinery near Athens
for maintenance next week. [ID:nLDE70A20A]
On the middle distillates front, gasoil trading was subdued
as traders focused on the expiry of ICE January future
contracts.
GASOLINE * Gasoline barge prices remained at 28-month highs of
$862-$866 a tonne fob ARA on Wednesday, compared with Tuesday's
price of $863 a tonne.
* About 6 barges traded, with Trafigura buying two and BP
picking up three barges sold by Totsa, according to a broker.
* Eurobob's crack spread to dated Brent BFO- was quoted at
around $6.03 a barrel by 1202 GMT from around $5.58 a barrel in
the previous trading session.
* ICE Brent crude futures LCOc1 were down 21 cents at
$97.40 a barrel by the same time.
* U.S. RBOB gasoline futures RBc1 in New York fell 1.04
percent to $2.4527 a gallon. The crack spread was down at about
$12.15 a barrel RB-CL1=R from $12.98 a barrel the previous
day.
MIDDLE DISTILLATES * Traders focused on the ICE January gasoil future contract
expiry, and there were no bids and offers shown by midday on the
market.
* On Tuesday, gasoil barges traded at discounts of
$1.50-$2.00 a tonne fob ARA to ICE gasoil futures LGOc1.
* By 1205 GMT, February ICE gasoil futures LGOc1 rose
$2.00 to $802.5 a tonne after the January contract expired.
* The prompt crack LGO-LCO1=R traded at $10.31 a barrel.
* The prompt intermonth spread LGO-1=R was in contango of
$6.50 a tonne, while February-March was quoted in contango of
$3.5 a tonne.
* On Tuesday, diesel barge prices traded at premiums of
$32-$34 a tonne fob ARA.
FUEL OIL
* Traders were looking for bids in a thin fuel oil market.
* Barges of high sulphur fuel oil (HSFO) with 3.5 percent
sulphur content were offered at around $510 a tonne fob ARA,
having traded at $502.50-$506.75 a tonne the previous session.
* Low sulphur fuel oil (LSFO) was offered at $516.5 a tonne
by midday, from price talk of $510.50-$516.50 a tonne on
Tuesday.
(Reporting by Zaida Espana; editing by Jane Baird)
