Europe gasoline refining margins rise
USO•Northwest European gasoline refining margins rose by $2 on Friday as oil prices headed for a weekly decline. The Ebob crack increased to $11.30 per barrel from $8.97 previously.
1. Trading activity
Varo sold one cargo of Eurobob E5 to TotalEnergies on the Platts platform. About 6,000 metric tons of Eurobob E10 traded, with Exxon Mobil selling to Varo and TotalEnergies on the Argus platform.
2. Market factors
India's fuel consumption in October rose nearly 10% from September, reaching its highest level since March. The Energy Information Administration said US refiners significantly reduced motor gasoline yields to prioritize distillate fuel oil and jet fuel amid constrained global supplies.
