Argus Eurobob non-oxy gasoline
Overview
Argus Eurobob is the benchmark for ARA, the gasoline hub in Europe.
The Eurobob non-oxy gasoline price assessment is the unfinished gasoline grade, which with the addition of 10% ethanol, becomes E10 finished grade. Environmental mandates have driven a rise in ethanol use, thus pushing the use of E10 finished grade gasoline throughout Europe. As a result, more than half of the demand in northwest Europe is for E10, rather than E5.
The Argus Eurobob non-oxy price is assessed as a volume weighted average (VWA). This means that the outright $/mt price of eligible trades during the trading day are used to calculate a VWA of all trades.
Price assessment details
What are the advantages of the Argus Eurobob non-oxy gasoline price assessment?
As European gasoline usage shifts over to more E10 blends, demand for non-oxy gasoline blendstocks is rising, meaning that accurate and robust pricing of these molecules becomes increasingly crucial. Europe therefore needs pricing mechanisms that reflect the true value of the E10 non-oxy gasoline market, rather than referring back to the traditional oxy gasoline benchmark.
The Argus Eurobob non-oxy gasoline price assessment is used as a benchmark price in gasoline transactions throughout northwest Europe. Eurobob is an unfinished gasoline, and the European swaps market shifted to price against this ethanol-ready blendstock in January 2010. It is the most liquid European gasoline assessment and is the market’s standard reference.
How is this assessment used?
Users of the Argus Eurobob non-oxy gasoline price assessment include refiners, traders, logistics providers, analysts, governments and financial exchanges. The price assessment is used in supply contracts, financial products, transfer pricing agreements and more.
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