Gasoline Rises; German Miro Refinery Halts Unit: Oil Products
Gasoline in northwest Europe rose as Trafigura Beheer BV purchased two barge lots. The fuel’s crack, or premium to Brent crude, increased.
Mineraloelraffinerie Oberrhein GmbH, also known as Miro, halted a desulfurization unit at its Karlsruhe refinery in Germany following a fire.
Gasoline for immediate loading in Amsterdam-Rotterdam- Antwerp traded at $1,143 and $1,150 a metric ton, according to a survey of brokers and traders monitoring the Argus Bulletin Board. That compares with yesterday’s deals from $1,131 to $1,138 a ton.
The prices are for Eurobob grade to which ethanol is added to make finished fuel. Barge deals are typically for lots of 1,000 tons or 2,000 tons.
Gasoline’s premium to Brent rose to $11.27 a barrel as of 11:10 a.m. local time, according to data from PVM Oil Associates Ltd., a broker in London. That compares with $10.98 yesterday and is at the highest level this week.
Gasoil for September delivery was little changed at $982.25 a ton as of 12:01 p.m. local time on the ICE Futures Europe exchange in London. The more actively traded October contract was at $983 a ton.
Gasoil’s crack, a measure of refining profitability, dropped to $18.06 a barrel from $18.12 at 4:30 p.m. yesterday. Brent gained 0.7 percent to $113.90 a barrel.
The blaze at Karlsruhe occurred at 1 a.m. local time today and resulted in flaring, or the release of gases, the company said in a statement posted on its website. The refinery can process 310,000 barrels of crude a day, according to data compiled by Bloomberg.
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