LONDON: Northwest European gasoline refining margins weakened on Monday as crude prices rose sharply while demand in the region remained limited.
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.
The PCK oil refinery at Schwedt in eastern Germany has started receiving clean Russian crude oil via the Druzhba pipeline, oil industry group MWV said, after contamination disrupted flows from April onwards.
ARA gasoline stocks rose this week by 13.1pc to a four-month high of 1.22 million tonnes, driven largely by lower exports, Insight Global's Lars van Wageningen said.
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