Northwest European gasoline margins rise on inventory decline

INVESTING.COMJun 5, 5:02 PM UTC
Northwest European gasoline margins rise on inventory decline

Investing.com -- Northwest European gasoline refining margins increased by 35 cents on Friday to reach $22.20 per barrel, driven by declining regional inventories.

Trading activity showed approximately 10,000 metric tons of Eurobob E10 gasoline barges changing hands in the Argus window. BP and Petroineos sold to MB Energy, Varo and Trafigura during the session.

An additional 7,000 tons of Eurobob E5 gasoline barges were traded, with Trafigura and Equinor selling to MB Energy and Gunvor. Shell also sold an E5 barge to BP in the Platts window.

In Mediterranean trading, Trafigura sold a June 22-26 cargo to Vitol at a $9 per ton premium to the June Mediterranean contract on a FOB Augusta basis.

ARA gasoline stocks dropped 7% during the week to 1.03 million tons, according to data from Dutch consultancy Insights Global released Thursday. Lars van Wageningen from Insights Global said the decline resulted from substantial export flows to the United States, the Mediterranean, and West Africa.

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