Europe gasoline refining margins inch up
USO•Northwest European gasoline refining margins rose $1.25 a barrel to $18.85 on Friday, despite higher oil prices.
1. Margins rise
Northwest European gasoline refining margins rose $1.25 a barrel to $18.85. In the Argus trading window, 12,000 metric tons of Eurobob E5 barges traded, with Exxon and Varo selling to TotalEnergies and MB Energy; no E10 trades were reported.
2. Fuel subsidy plans
Japan's government is considering scaling back gasoline subsidies as early as December, two ruling party officials said, while Indonesia's energy minister said he was considering requesting an additional subsidised fuel quota for this year.
