Europe gasoline refining margins hover near multi-month lows
USO•Northwest European gasoline refining margins steadied at $27.85 a barrel on Monday, near their lowest level since mid-June. Argus-window trades included 12,000 metric tons of Eurobob E5 barges and 4,000 tons of Eurobob E10 barges.
1. Margins and trades
Northwest European gasoline refining margins steadied on Monday at $27.85 a barrel, near their lowest level since mid-June; the previous figure was $26.56. In the Argus window, 12,000 metric tons of Eurobob E5 barges traded, with Equinor, Exxon and Varo selling to TotalEnergies and Gunvor. Shell and Exxon sold 4,000 tons of Eurobob E10 barges to Varo and Van Raak.
2. Oil market context
Oil prices fell by more than $1 on Monday after climbing to multi-month highs last week. Investors took profits while monitoring conflicts in the Middle East and Ukraine and assessing the impact of US waivers on some sanctions and tariffs affecting Russian exports.
