Bloomberg News

European Gasoline Gains; Black Sea Gasoil Declines: Oil Products

September 04, 2012

European gasoline extended gains to trade at the highest in more than four months.

Russia will reduce gasoil exports and boost fuel oil shipments from the port of Novorossiysk on the Black Sea, according to a loading program obtained by Bloomberg News.

Light Products

Gasoline for immediate loading in Amsterdam-Rotterdam- Antwerp traded at $1,150 a metric ton on the barge market, according to a survey of traders and brokers monitoring the Argus bulletin board. That compares with transactions from $1,124 to $1,138 a ton yesterday and is the most since April 16, according to data compiled by Bloomberg.

Vitol Group bought the Eurobob grade, to which ethanol is added to make finished fuel. OAO Lukoil’s Litasco unit sold. Barge lots usually comprise 1,000 or 2,000 tons.

Gasoline’s crack, or premium to Brent crude, increased to $10.41 a barrel from $10.03 in the previous session, according to data from PVM Oil Associates Ltd., a crude and products broker in London.

Naphtha’s discount to Brent crude narrowed to $4.88 a barrel from $5.20 yesterday, PVM data showed. It closed at $3.90 a barrel on Aug. 31, which was the smallest loss in six months.

Middle Distillates

Russia will ship 14 cargoes, or 244,400 tons, of gasoil this month from Novorossiysk, a loading program obtained by Bloomberg News shows. That’s down from 280,800 tons in August, according to the plan.

Gasoil for September delivery climbed $2.25, or 0.2 percent, to $1,003.75 a ton on the ICE Futures Europe exchange in London as of 12:14 p.m. local time. The more active October contract traded at a 50-cent premium, or contango, to September.

Gasoil’s crack, a measure of refining profitability, declined to $18.64 a barrel versus $18.85 as of 4:30 p.m. yesterday. Brent was up 0.2 percent at $116.02 a barrel.


Russia will sell 10 consignments of fuel oil, or 350,000 tons, in September from the Black Sea port, according to the loading plan. That’s up from 280,000 tons in the previous month.

Fuel-oil shipments to Asia from Western countries in October more than doubled from a week earlier to 3 million metric tons, according to vessel-charter data and information from traders compiled by Bloomberg.

Thirteen tankers, including ten very large crude carriers, are scheduled to arrive in Asia next month after loading at ports in Europe, the U.S. and the Caribbean, data from shipbrokers including Poten & Partners Inc. show. The October volume compares with 1.43 million tons reported a week earlier. Some fixtures are provisional and subject to changes or cancellation.

To contact the reporter on this story: Lananh Nguyen in London at

To contact the editor responsible for this story: Stephen Voss at

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