European gasoline margins fall

Benchmark northwest European gasoline refining margins fell slightly on Monday under pressure from high Atlantic basin stocks. Inventories on both sides of the Atlantic rose in the most recent set of data from the US Energy Information Administration and Dutch consultancy PJK International.
In Europe, the return from maintenance of several refineries was adding to supplies. Industry monitor Genscape reported the fluid catalytic cracker at Petroineos' Lavera refinery was being restarted after a shutdown on May 15. European gasoline stocks stood at 117.22 million barrels in May, down 2.7 pct from April, but up 1.2 pct year-on-year, according to Euroilstock data.