LONDON: Northwest European gasoline refining margins rose on Thursday on the back of a still open arbitrage to the United States due to the outage of a major Philadelphia refinery.
Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by 12% in the week to Thursday, data from Dutch consultancy Insights Global showed.
The Philadelphia Energy Solutions refinery, the oldest and largest on the US East Coast, is expected to shut its remaining units on Monday as the plant uses up the last of its crude supplies, sources said on Wednesday.
Water levels along the Rhine river, a key waterway for transporting commodities and other products to inland locations from ARA, have been at about 180 cm at the Kaub point for three days, the lowest since May 20.
Lars van Wageningen of Insights Global said the low rate of exports down the Rhine had boosted stocks in ARA.
A crude distillation unit at Germany's Schwedt refinery was shut for a second day on Thursday, according to Genscape.
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