Europe gasoline refining margins fall to one-month low
USO•Northwest European gasoline refining margins fell about $8 to $32.86 a barrel on Wednesday, their lowest level in a month. Rising blending costs and freight rates weighed on margins, an analyst said.
1. Margins hit monthly low
Northwest European gasoline refining margins fell about $8 to $32.86 a barrel on Wednesday, the lowest level in a month. Rising blending costs and freight rates weighed on margins, Sparta Commodities analyst Nikolas Plonski said.
2. Trading and supply concerns
In the Argus window, 6,000 metric tons each of Eurobob E5 and E10 barges traded. Vitol and Exxon Mobil sold E5 to BP and Varo, while Shell and Exxon Mobil sold E10 to Varo. In the Platts window, Vitol sold one E5 barge to Trafigura. A labour dispute over the future of Italy's former Ilva steelworks is threatening fuel supplies in parts of southern Italy after protesters disrupted operations at ENI's Taranto refinery.
