LONDON: Northwest European gasoline refining margins rose on Wednesday as inventories in the United States, a key market for European exports, dropped sharply.
US gasoline stocks fell by 1.7 million barrels last week, compared with analysts' expectations in a Reuters poll for a 935,000-barrel gain, Energy Information Administration data showed.
Naphtha exports from Europe and the Mediterranean to Asia were expected to reach 1.2 to 1.3 million tonnes in June, around a quarter lower than the previous month, according to Refinitiv Oil Research.
Total naphtha flows into Asia are set to reach as much as 5.2 million tonnes in June, down by 400,000 tonnes from May, the data showed.
Kuwait's state refiner KNPC said refining operations at its Mina Abdullah oil refinery have been affected by a cut in seawater supply, which is used to cool production units in the plant.
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