Rising oil pressures cracks spread: gasoline and naphtha barge prices rise in Europe

03-Mar-11
European gasoline and naphtha barge prices rose as rising oil markets pressured crack spreads, as per Reuters. Brent has surpassed US$114 amid unrest in North Africa and the Middle East, reigniting concerns about global oil supply. Prices had also been supported by talk of ongoing problems at Europe's largest refinery Pernis, owned by Royal Dutch Shell. Barges of benchmark Eurobob were traded at US$947-$960/ton FOB ARA. Glencore sold one cargo to BP at US$975/ton CIF NWE
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