Gasoline refining margins in northwest Europe fell on Wednesday in a thin market, with the United States a favoured destination. EIA data showed US weekly gasoline stocks were up 1.17 million barrels at 237.98 million barrels. Most arbitrages were shut with limited opportunities to sell to North America, traders said.
The Trump administration has invited four US senators to meet at the White House early next week about the nation's biofuels policy, the latest in a series of such meetings since late last year aimed at helping refiners cope with the Renewable Fuel Standard, according to two sources familiar with the matter. Vietnam's Nghi Son Refinery and Petrochemical LLC said on Wednesday its refinery in central Vietnam has started producing its first batches of gasoline, using crude oil from Kuwait.
An explosion in the gasoline-producing fluidic catalytic cracking unit (FCCU) set off a massive fire last Thursday at Husky Energy's Superior, Wisconsin, refinery, an official at the US Chemical Safety Board said. There were no trades of eurobob gasoline during the afternoon trading window.
Elsewhere, 12,000 tonnes of eurobob gasoline traded on barges at $689-$699 a tonne fob AR, compared with sales at $695.50-$708.00 a tonne on Tuesday. AOT and Total sold to Hartree, Shell, BP and Finco. No barges of premium unleaded gasoline traded. An offer came in at $693 a tonne fob ARA, down from an offer at $707 a tonne on Tuesday. No cargoes traded. A bid emerged at $684 a tonne fob Med but was withdrawn. The June swap stood at $692.50 a tonne at the close compared with $703.75 previously. The benchmark EBOB gasoline refining margin fell to $8.402 a barrel from $9.269 a barrel.
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