Europe gasoline refining margins fall
USO•Northwest European gasoline refining margins fell by more than $4 on Wednesday to $22.72 a barrel, despite a drop in US stocks.
1. Margins and trading
Northwest European gasoline refining margins fell to $22.72 a barrel from $27.22. In the Argus window, 38,000 metric tons of Eurobob E5 barges traded, with TotalEnergies buying from Exxon, Equinor, Varo and Trafigura; 14,000 tons of Eurobob E10 barges traded between sellers Exxon and Shell and buyers Varo, Equinor and Van Raak.
2. Stocks and exports
US crude and gasoline stocks fell in the week ended October 16, while distillate inventories rose, the US Energy Information Administration said. EU-27 and UK gasoline exports to other regions averaged 738,000 barrels per day so far in October, below last month's average of 1.05 million bpd.
