LONDON: Gasoline refining margins in northwest Europe eased on Thursday, after ARA inventories rose, but French refinery strikes capped losses.
Stocks of gasoline held in independent storage in the Amsterdam-Rotterdam-Antwerp hub rose by nearly 8 percent in the week to Thursday, according to data from Dutch consultancy PJK International.
Total's five French refineries are running at "minimum output level" due to a nationwide strike against a French government labour law reform, a CGT Union official said on Thursday.
The Donges and Grandpuits refineries are at risk of shutting down by Friday, and trading sources said the five refineries were operating at around half capacity.
A recent sharp drop in US gasoline stocks have also given cracks in Europe support.
EIA data showed gasoline stocks fell last week by 2.5 million barrels, compared forecasts for a 150,000-barrel drop.
US gasoline demand over the past 4 weeks rose to a seasonal record of 9.6 million barrels per day, according to the EIA.
At least four tankers were booked in recent days on the transatlantic route from Europe, according to Reuters data.
GASOLINE
No eurobob barges traded during the afternoon window.
Some 16,000 tonnes of eurobob barges traded throughout the day at $492 to $503 a tonne fob Amsterdam-Rotterdam, down from $508 the previous day.
No barges of premium unleaded gasoline traded. Offers were seen at $534 a tonne fob ARA, compared to bids the previous day at $538.
The June swap stood at $509 a tonne at close, down from $529 a tonne.
Gasoline barge refining margins fell slightly to $12.35 a barrel from $12.69 a barrel the previous day.
Brent crude oil futures were down 92 cents at $48.01 a barrel at 1555 GMT.
US June RBOB gasoline was down 2.4 percent at $1.6094 a gallon.
The US gasoline crack stood at $20.29 a barrel, down from $20.88.
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