RTRS: Europe Products-Firmer, Med gas oil supported by demand
LONDON July 6 (Reuters) - European oil product prices
firmed on Tuesday on higher crude oil.
Gas oil with 0.1 percent sulphur has been supported in the
Mediterranean as spot demand for the lower sulphur fuel from
countries outside Europe has been to shifting from 0.2 percent
or higher sulphur content and increasing, traders said.
GASOLINE AND NAPHTHA * Benchmark Eurobob, the export grade gasoline, traded
between $665 and $670 a tonne fob ARA, up from $659-$662 late on
Monday, which was the lowest since late May.
* The gain in Eurobob prices were limited compared with
crude oil and its crack to dated Brent BFO- fell about 25
cents to $6.75 a barrel.
* Dealing was moderate, about 10,000 tonnes changes hands.
* ICE Brent crude futures LCOc traded $1.15 higher at
$72.62 a barrel by 1046 GMT.
* U.S. RBOB futures in the New York Mercantile Exchange were
up 1.23 percent from Friday's close at $2.0021 a gallon. There
was no settlement on Monday due to the U.S. Independence Day
holiday.
MIDDLE DISTILLATES
* Physical barges were not discussed actively.
* On Monday, barges of 10 ppm diesel traded at premiums of
$7/$8 a tonne fob ARA to July ICE gas oil futures and gas oil
was sold at discounts of $4/$5 to the benchmark.
* July ICE gas oil futures LGOc1 rose $14.00 to $622.00 to
by 1055 GMT.
* The prompt crack was around $11.11 a barrel.
* The prompt inter-month spread was a contango of $1.50 a
tonne.
FUEL OIL * High sulphur fuel oil (HSFO) with 3.5 percent sulphur
barges were discussed at $391-$399 a tonne fob ARA, up from
$389-$392 at Monday's close.
* The level put HSFO's crack at minus $10.45 a barrel.
* Low sulphur fuel oil with 1 percent sulphur was discussed
at $430-$435 a tonne fob.
(Reporting by Ikuko Kurahone)