Europe Gasoline/Naphtha-Gasoline refining margins slip
XLE•Northwest European gasoline margins fall on higher inventories
LONDON, July 31 (Reuters) - Northwest European gasoline refining margins fell by over $3 to $38.64 a barrel on Friday amid higher regional inventories and thin trading activity.
- A total of 2,000 metric tons of Eurobob E5 barges traded on Argus, with Sahara selling to Gunvor.
- Another 4,000 tons of Eurobob E10 barges traded on Argus, with Trafigura selling to Varo.
- Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp refining and storage hub rose 21% on higher production, lower inland demand and lack of exports, data from Insights Global showed.
- Meanwhile, naphtha stocks rose 31% to their highest since February this year on more imports.
- The Russian government extended its bans on export of diesel and gasoline until January 31, 2027, it said in a statement on Thursday.
- Chevron CVX.N surpassed analysts' estimates for second-quarter earnings on Friday, reporting its highest quarterly profit in at least six years as the U.S.-Israeli war with Iran disrupts world energy markets, boosting profits for the biggest oil companies.
