LONDON: Northwest European gasoline refining margins edged lower on Monday in a muted market that produced no deals in the trading window, though transatlantic exports offered some support.
Gasoline stocks in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by 9.4% in the week to Thursday, data from Dutch consultancy Insights Global showed.
Gasoline exports from Europe to the US East Coast rose sharply in early July after a fire at the 335,000 barrel per day (bpd) Philadelphia Energy Solutions refinery on June 21.
European arrivals in the United States for the week starting July 8 will be about 515,000 tonnes, up 250,000 tonnes from the week starting July 1, according to tanker tracker Kpler.
Kpler analysts do not expect a substantial increase in the number of fixtures out of Europe to the US East Coast beyond the second week of July.
US gasoline stocks fell by 1.6 million barrels last week, according to EIA data. Analysts polled by Reuters had expected a 2.2 million barrel drop.
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