Europe gasoline refining margins jump
USO•Northwest European gasoline refining margins rose nearly $12 to $47.60 a barrel on Friday, supported by low inventories and brisk buying activity.
1. Trading and inventories
Varo, Gunvor and Aramco sold 14,000 metric tons of E5 gasoline barges to Trafigura and TotalEnergies, while Exxon and Shell sold about 6,000 tons of E10 barges to Varo and Aramco. Gasoline inventories in the Amsterdam-Rotterdam-Antwerp hub fell around 5.7% to 839,000 tons as exports increased.
2. China exports
China is set to resume refined fuel exports in October after a brief halt during its Golden Week holiday, a move traders said would help ease tight global diesel, gasoline and jet fuel markets.
