Advertisement
UK markets closed

  • NIKKEI 225

    38,460.08
    +907.92 (+2.42%)
     

  • HANG SENG

    17,201.27
    +372.34 (+2.21%)
     

  • CRUDE OIL

    82.84
    -0.52 (-0.62%)
     

  • GOLD FUTURES

    2,328.90
    -13.20 (-0.56%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • Bitcoin GBP

    51,446.32
    -1,766.16 (-3.32%)
     

  • CMC Crypto 200

    1,385.35
    -38.75 (-2.72%)
     

  • NASDAQ Composite

    15,712.75
    +16.11 (+0.10%)
     

  • UK FTSE All Share

    4,374.06
    -4.69 (-0.11%)
     
Money:

The five essential pieces of financial paperwork you must never lose

Mislaying key documents can cause real headaches, so it’s worth tracking down these most commonly-lost bits of paperwork

Europe Gasoline/Naphtha-Gasoline cracks slide as overhang weighs

Reuters - UK Focus

LONDON, Aug 9 (Reuters) - Gasoline refining margins in northwest Europe fell for a second consecutive session to below $9 a barrel on Tuesday as overseas demand failed to ease a persistently high supply overhang on both sides of the Atlantic (Shanghai: 600558.SS - news) .

* While gasoline tanker bookings to West Africa and the United States have picked up in recent days, a big overhang in the Atlantic basin is dampening prospects for a market rebalance, traders said.

* Gasoline stocks held by European refiners in July were 14.7 percent higher than a year earlier, data from industry monitor Euroilstock showed on Tuesday, as plants sought to maximise production.

* Nigerian state oil company managing director Maikanti Baru said he has "not been directed to increase pump price" for gasoline.

ADVERTISEMENT

* Baru said the request for foreign currencies from gasoline importers has been met, and the government supply is "robust" with more than 1.4 billion litres.

* Some importers had struggled to get the access to U.S (Other OTC: UBGXF - news) . dollars needed to buy fuel, even after the central bank floated the naira currency in June.

* U.S. and Mexican refinery outages have been giving gasoline cracks a floor.

* Mexico has increased its gasoline buying in August to some 600,000 tonnes due to refinery outages.

GASOLINE

* Gunvor sold to BP one barge of benchmark ebob gasoline in the afternoon window at $440 a tonne fob ARA, down from $444 a tonne on Monday.

* Some 20,000 tonnes traded throughout the day at $437-$441 a tonne fob Amsterdam-Rotterdam, compared with $442.50 a tonne on Monday. Gunvor sold to Shell (LSE: RDSB.L - news) , Varo, and BP.

* Eleven barges of premium unleaded gasoline traded at $452 a tonne fob ARA, down slightly from $453 a tonne. Rolympus and Litasco sold to Total (LSE: 524773.L - news) .

* Gasoline barge refining margins fell to $8.87 a barrel, from $9.63.

* The September swap stood at around $444.50 a tonne at the close, down from $446 a tonne.

* Brent crude oil futures were little changed at $45.42 a barrel by 1540 GMT.

* U.S. August RBOB gasoline futures were down 0.58 percent at 1.3541 a gallon.

* The U.S. gasoline crack (RB-CL1=R) was trading at $13.75 a barrel, down from $14.83 a barrel.

NAPHTHA (NAF-C-NWE)

* No naphtha cargoes traded. (Reporting by Ahmad Ghaddar)