Europe gasoline refining margins recover
USO•Northwest European gasoline refining margins rose about $9 to $42.03 a barrel on Thursday, recovering from their one-month low in the previous session. ARA gasoline stocks fell 1.5% to 826,000 tons, while US gasoline stocks rose 3.5 million barrels to 208.3 million.
1. Margins rebound
Northwest European gasoline refining margins rose about $9 to $42.03 a barrel on Thursday, recovering from their lowest level in a month in the previous session.
2. Stocks and trading
Gasoline stocks in the Amsterdam-Rotterdam-Antwerp hub declined 1.5% to 826,000 tons as export cargoes departed for West Africa and the United States. In the Argus window, 12,000 metric tons of Eurobob E5 barges traded, with ExxonMobil and ATL selling to BP and TotalEnergies; 12,000 tons of Eurobob E10 barges were sold by Shell, Total and Exxon to Varo and BP.
3. US gasoline stocks rise
US gasoline stocks rose by 3.5 million barrels to 208.3 million barrels in the week, compared with analysts’ expectations for a 0.5 million-barrel draw.
