Europe gasoline refining margins jump
USO•Northwest European gasoline refining margins rose nearly $4 to about $44.82 a barrel on Wednesday, amid worries over supply disruptions and low stocks.
1. Margins rise
Northwest European gasoline refining margins climbed to about $44.82 a barrel from $40.85. Varo sold 4,000 metric tons of E5 gasoline barges to Trafigura, while Exxon sold 2,000 tons of E10 barges to Varo and an E5 barge to Trafigura.
2. Supply concerns
US gasoline stocks rose to 204.7 million barrels in the week ended October 2, against analysts’ expectations for a draw. Gulf Coast stocks were at their lowest since September 2017, and Midwest inventories were at a record low. Forecasters said a storm in the Gulf of Mexico was expected to become the first Atlantic hurricane of 2026 within two days and could pass near oil and gas production areas and major refineries.
3. Other disruptions
Venezuela halted its 310,000-barrel-per-day Cardon refinery after a fire caused by a ruptured natural gas line. Belarusian gasoline shipments to Russia by rail fell nearly 13% in September from the previous month, while diesel shipments dropped 29% ahead of planned refinery maintenance; supplies remained above monthly averages recorded since the start of the year.
