LONDON: Northwest European gasoline refining margins rose again on Tuesday to over $11 a barrel, supported by rising exports to the US East Coast.
Gasoline exports from Europe to the US East Coast rose in recent days after the June 21 fire at the 335,000 barrel-per-day Philadelphia Energy Solutions Inc refinery.
Around 15 cargoes totalling around 555,000 tonnes of gasoline and blending components have been booked out of Europe on the transatlantic route in the first week of July, according to shipping data.
High freight rates continue to narrow the arbitrage opportunities, traders said.
Gasoline stocks in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by 6pc in the week to Thursday, data from Dutch consultancy Insights Global showed.
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