LONDON: Gasoline refining margins in northwest Europe declined on Wednesday after a surprise rise in US inventories.
US gasoline stocks rose last week by 894,000 barrels, compared with analysts' expectations in a Reuters poll for a 919,000-barrel drop, EIA data showed.
Buying activity in the ARA hub remained strong as exports from the region to North America, West Africa, the Middle East and Asia picked up in recent days.
Gunvor has provisionally booked at least three 60,000 tonne gasoline tankers in recent days to load in northwest Europe for journeys to the Middle East and Asia.
A busy refinery turnaround schedule in the Middle East was driving up imports for the motor fuel, traders said.
And an expected heavy maintenance programme in Europe and Asia in the first quarter of 2018 further supported as traders stock up.
Energy Aspects: "Gasoline markets will struggle to fight unfavourable seasonal trends towards higher supply and lower demand in the near term. Stocks will head higher, but having been drawn down so heavily in recent months, these builds are more than manageable". GASOLINE
Gunvor sold to Varo a barge of Eurobob gasoline in the afternoon trading window at $594 a tonne fob ARA.
Earlier in the day 14,000 tonnes traded at $600 and $612 a tonne fob Amsterdam-Rotterdam, compared with $610-$632 a tonne. Shell and BP sold to Gunvor.
Three barges of premium unleaded gasoline at $608 and $617 a tonne fob ARA, compared with $617 a tonne the previous day. Gunvor and Shell sold to BP.
The December swap stood at $584.50 a tonne at the close, up from $583 a tonne.
The benchmark EBOB gasoline refining margin declined to $9.967 a barrel from $12.956 a barrel.
Brent crude futures were down 21 cents to $62 a barrel at 1651 GMT.
US front-month RBOB gasoline futures were down 0.94 percent at $1.7446 a gallon.
The RBOB crack versus US crude declined 2.24 percent to $17.86 a barrel.
NAPHTHA
No cargoes traded.
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