Europe Gasoline/Naphtha-Cracks rise but remain negative as people stay off the road
LONDON, March 17 (Reuters) - Northwestern European gasoline refining margins rose on Tuesday but remained in negative territory as measures to contain the coronavirus outbreak kept people at home, curbing demand for gasoline. * In Europe, refiners are losing nearly $3.60 on every barrel of gasoline they produce, a figure not seen since Jan 2019. * Asian refiners are producing gasoline at a loss of 78 cents a barrel of Brent crude, the biggest in 13 months. * U.S. gasoline refining margins <RBc1-CLc1> fell a whopping 95% on Monday and briefly turned negative before settling at 28 cents per barrel, their lowest since December 2008. * Italian energy group Eni said all its refineries in Italy were working normally except for two, at Sannazzaro and Taranto, which had partially cut their volumes for maintenance. * China said on Tuesday it will cut the retail ceiling prices for gasoline by 1,015 yuan ($144.79) per tonne and diesel by 975 yuan, the biggest reduction since Beijing launched the pricing mechanism in 2013. Gasoline (in tonnes) Trades Bids Offers Prev. Sellers Buyers (vol.) Trades Ebob $192 $206 $188 Barges MOC Platts E5 (fob ARA) <EUROBO B-ARA> Ebob $203 Barges E10 Platts( fob ARA) Ebob $198.50 Macquar Hartre Barges - $206 ie, e Argus (4KT) Gunvor E5(fob AR) Ebob $204 - BP Varo, Barges $206 Hartre E10 (4KT) e Argus (fob AR) April $223.25 $221.25 swap fob ARA Premium $204 $223 $212-$215 Unleade d (fob ARA) <PU-10P P-ARA> Cargoes (fob MED) Cargoes One (cif cargo NWE) as a differe ntial of April -$3 (Falcon ara) Naphtha (cif NWE) <NAF-C- NWE> Ebob crack (per barrel) -$3.647 prev. -$6.301 Brent futures Rbob Rbob crack <RBc1-CLc1> (Reporting by Bozorgmehr Sharafedin; Editing by Jan Harvey)