Bloomberg News

European Gasoline Advances; Gasoil Crack Declines: Oil Products

November 15, 2012

Gasoline advanced for a second day in northwest Europe as Brent crude rose.

Gasoil gained on the ICE Futures Europe exchange in London. The fuel’s crack, or premium to Brent, dropped.

Light Products

Gasoline for loading in the Amsterdam-Rotterdam-Antwerp hub traded at $967 a metric ton, according to a survey of brokers and traders monitoring the Argus Bulletin Board. That compares with barge deals from $951 to $963 yesterday.

Royal Dutch Shell Plc (RDSA) was among buyers for the Eurobob grade, to which ethanol is added to make finished fuel, according to the survey. Barges typically trade in lots of 1,000 tons or 2,000 tons.

The fuel’s crack rose 4 cents to $4.43 a barrel as of 10:32 a.m. local time, according to data from PVM Oil Associates Ltd., a crude and products broker in London.

Naphtha’s discount to Brent widened 10 cents to $4.58 a barrel, PVM data showed.

Middle Distillates

Gasoil for December delivery rose $5.50, or 0.6 percent, to $933.75 a ton on ICE as of 12:25 p.m. London time.

Gasoil’s crack fell to $14.71 a barrel versus $15.38 at 4:30 p.m. yesterday. Brent added 1 percent to $110.66 a barrel on ICE.

To contact the reporter on this story: Nidaa Bakhsh in London at nbakhsh@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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