Chemical News
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NWE premium unleaded gasoline spread to EBOB at 3-month low on weak WAF demand
http://www.chemnet.com Nov 20,2014 Platts
The premium of Northwest European 10 ppm premium unleaded gasoline -- a finished grade -- to blendstock Eurobob barges reached its lowest levels in three months Tuesday, as demand for West African grade gasoline weakened.
Platts assessed 10 ppm premium unleaded gasoline at $753.25/mt Tuesday, a $13/mt premium to EBOB barges.
The value was down from $753.75 Monday, when the premium was at $14/mt.
The spread between 10 ppm premium unleaded material and EBOB is the narrowest since August 27, when it was assessed at $3.75/mt, Platts data show.
Market sources attributed the weakness of the finished grade to lower-than-expected West African gasoline demand.
The assessment is typically used as a pricing benchmark for the higher-sulfur, lower-octane WAF grade.
"WAF [expected demand] was a little above normal," said a trading source.
In addition, octane boosters were showing signs of retracement, sources said, with the MTBE factor -- the ratio of the price of MTBE to EBOB gasoline -- sliding to 1.27 Tuesday from 1.284 Monday.
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