Benchmark northwest European gasoline refining margins ended the week 10 percent higher, supported by stronger overseas demand. ARA gasoline stocks rose by 1 percent to over 1 million tonnes in the week to Thursday, according to Dutch consultancy PJK International. US gasoline stocks rose by 534,000 barrels last week, according to Energy Information Administration data. This compares with analyst expectations in a Reuters poll of a 1.4 million-barrel drop.
Benchmark US gasoline refining margins are at their highest level for this time of the year since 2015, supported by strong demand. Gasoline imports into the US East Coast declined last week to 771,000 bpd, according to EIA data.
Several gasoline cargoes were booked out of Europe this week to go to North America, West Africa, the Middle East as well as to Australia, according to shipping data. BP completed maintenance at the Gelsenkirchen-Scholven oil refinery in Germany, it said.
No EBOB barges traded in the afternoon window. Elsewhere, 11,000 tonnes of Eurobob gasoline traded at $724-$735 a tonne fob Amsterdam-Rotterdam, compared with $732 a tonne on Thursday. Total and Vitol sold to Gunvor, Castleton, Shell and AOT. Gunvor sold one barge of premium unleaded gasoline to Total at $728 a tonne fob ARA, compared with $740 and $741 a tonne a day earlier.
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