Price Summary
| Product | Delivery Basis | Price | Weekly Change |
|---|---|---|---|
| Gasolines | |||
| Gasoline 10 ppm | CIF NWE ($/mt) | 1329.75 | +16.00 |
| Eurobob Barges | FOB Rotterdam ($/mt) | 1244.75 | +6.75 |
| Gasoline 92 unleaded | FOB Singapore ($/bbl) | 150.69 | +10.26 |
| Prem Unl 10 ppm | FOB Med ($/mt) | 1321.00 | -2.50 |
| Diesel & Gasoil | |||
| ULSD | CIF NWE ($/mt) | 1470.00 | -28.25 |
| ULSD | CIF Med ($/mt) | 1469.25 | -19.75 |
| ULSD | FOB Med ($/mt) | 1440.50 | -26.50 |
| Gasoil 10 ppm | FOB Arab Gulf ($/bbl) | 161.56 | +4.06 |
| Gasoil | FOB Singapore ($/bbl) | 179.33 | +4.98 |
| Jet | |||
| Jet | CIF NWE ($/mt) | 1603.50 | +53.75 |
| Jet | FOB Med ($/mt) | 1550.00 | +41.75 |
| Naphtha | |||
| Naphtha | CIF NWE ($/mt) | 864.75 | +19.50 |
| Naphtha | FOB Med ($/mt) | 802.75 | +5.25 |
| Naphtha | FOB Singapore ($/bbl) | 96.35 | -0.07 |
| Naphtha | FOB Arab Gulf ($/mt) | 684.46 | -6.77 |
| Fuel Oil | |||
| HSFO 3.5% | CIF Med ($/mt) | 589.75 | -13.75 |
| HSFO 3.5% | FOB Med ($/mt) | 562.00 | -18.50 |
Региональный анализ рынка
Northwest Europe (NWE) Gasoline in Northwestern Europe remains expensive: Eurobob FOB Rotterdam rose by $6.75/t over the week to $1,244.75/t, while CIF NWE for 10 ppm gasoline added $16/metric ton to reach $1,329.75/metric ton. On Tuesday, the front-month Eurobob in the MOC window fell by $18.75/metric ton to $1,118.25/metric ton, while the crack spread stood at $37.5/bbl, however, on Thursday, amid the monthly rollover, the barge price fell to $1,098.25/t (crack $34.02/bbl). The Eurobob spread to its crude oil equivalent reached $316.25/metric ton, causing gasoline prices to rise, while WAF-spec shipments in the ARA hub were sold at a discount of more than $50/metric ton to the October Eurobob. The premium for oxygenated components remains very high: non-oxy 95 RON on an FOB Pembroke basis traded at $125/metric ton relative to the October Eurobob. The diesel segment is weaker: ULSD CIF NWE fell by $28.25/t over the week to $1,470/t, while the Jet premium to ICE LSGO widened to $96.5/t on Tuesday. The naphtha market in NWE rose: CIF NWE gained $19.5/metric ton over the week to $864.75/metric ton, but demand from the petrochemical sector and blenders remains sluggish, and the Shell Rotterdam refinery (formerly Pernis) has been undergoing a scheduled unit shutdown since September 28.
Mediterranean (Med) In the Mediterranean, gasoline prices fell by $2.5/metric ton over the week to $1,321/metric ton (Prem Unl 10 ppm, FOB Med), but the cash differential against October swaps narrowed from $112.75/metric ton on Tuesday to $105.75/metric ton on Thursday. A Greek company offered a shipment of at least 27,000 metric tons for delivery October 12–16 at a premium of $125/metric ton, and the deal was deemed competitive, indicating a continuing shortage of oxygenates. The Med premium to NWE for October gasoline stood at $18.5/t and remained at a high level, while the spread for November widened by 75 cents/t. Diesel prices are falling: ULSD CIF Med dropped by $19.75/metric ton over the week to $1,469.25/metric ton, while FOB Med fell by $26.50/t to $1,440.50/t. Heavy fuel oil (HSFO 3.5%) saw the sharpest decline among all segments: CIF Med fell by $13.75/metric ton to $589.75/metric ton, FOB Med down $18.5/metric ton to $562/metric ton. The only notable increase in the region was for FOB Med jet fuel: +$41.75/metric ton to $1,550/metric ton, indicating a shortage of jet fuel in the region.
Russia & CIS This week’s reports do not include price quotes for Russia and the CIS, so our assessments are limited to events that affect the market. September 28 Russia issued a decree restricting access to data on energy exports and refinery operations, citing national security concerns amid the conflict with Ukraine. This heightens uncertainty regarding the country’s ability to export distillates. In crude oil tenders in NWE, buyers are increasingly excluding products of Russian origin, which narrows the pool of suppliers for European buyers. For CIS markets, this means that the distillate balance will depend on the availability of alternative routes and freight rates.
West Africa (WAF) Demand in West Africa for oil-rich products has declined, reducing the incentives for exporting European gasoline components. High freight rates are making arbitrage toward USAC and WAF challenging, and one market participant explicitly called it “difficult” for gasoline. The discount on the WAF specification relative to Eurobob, exceeding $50/metric ton, reflects the wide gas-to-naphtha spread and makes low-octane components less attractive to blenders. The October–November naphtha spread in NWE widened to $29.5/t on Thursday, reflecting expectations of a tightening supply-demand balance. Demand for naphtha in the petrochemical sector remains weak due to high feedstock costs and low plant utilization rates.
Global Factors Freight rates remain a key driver of jet fuel prices: The LR2 rate on the Persian Gulf–UK/Continental Europe route stood at $156.67/metric ton on Tuesday, up $0.56/metric ton from the previous day. Traffic through the Strait of Hormuz remains low, while traffic through the Bab el-Mandeb Strait remains stable; meanwhile, the EU is considering increasing the number of military ships to escort vessels in the Red Sea. Uncertainty surrounding a possible U.S. ban on diesel exports continues to weigh on jet fuel prices, while kerosene crackers fell by $5.04/bbl over the week to $90.09/bbl. In Asia, 92-octane gasoline on a FOB Singapore basis rose by $10.26/bbl over the week to $150.69/bbl, diesel on a FOB Singapore basis rose by $4.98/bbl to $179.33/bbl, and 10 ppm diesel on a FOB Gulf of Arabia basis rose by $4.06/bbl to $161.56/bbl. Low water levels on the Rhine (minus 4 cm on Thursday) continue to limit crude oil supplies to refineries and disrupt regional logistics.