LONDON: European gasoline margins rose sharply above $10 a barrel on Tuesday as ICE Brent crude futures sank by over 2 percent on a strong dollar.
An open transatlantic arbitrage from Europe has also supported gasoline margins.
Philadelphia Energy Solutions will run the 90,000 barrel-per-day gasoline-making unit in the Girard Point section of its Philadelphia refinery at reduced rates as repairs are made to a related boiler, according to a source familiar with the plant's operations.
Mediterranean exports to the Middle East are set to slow as refineries in the region return from maintenance.
A fire that broke out on Monday at Ivory Coast's only oil refinery was put out by the evening and production was unaffected, the refinery said in a statement.
Egypt has reduced the arrears it owes foreign oil companies to $3.5 billion by the end of December from $3.6 billion in September, Petroleum Minister Tarek El Molla told Reuters on Tuesday.
Marathon Petroleum Corp plans to overhaul a crude distillation unit, two reformers and a hydrotreater at its 459,000 bpd Galveston Bay Refinery in Texas beginning on Jan. 9, sources familiar with plant operations said.
GASOLINE
No barges of benchmark Eurobob gasoline traded during the afternoon window. A bid emerged at $533 a tonne fob ARA but was then withdrawn.
Earlier in the day, 8,000 tonnes of gasoline changed hands at $546-$548 a tonne fob Amsterdam-Rotterdam, up from $535 a tonne on Friday.
No trades, bids or offers of premium unleaded gasoline emerged.
The January swap stood at around $544 a tonne at the close, up from $542 a tonne.
Gasoline barge refining margins rose sharply to $10.24 a barrel, from $8.50 a barrel.
U.S. December RBOB gasoline futures were trading 2.18 percent lower at $1.6344 a gallon by 1703 GMT.
The U.S. gasoline crack traded at $15.80 a barrel, down from $16.18 a barrel on Friday.
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