Gasoline refining margins fell on Thursday following a sharp rise in gasoline stocks in the region. ARA gasoline stocks rose by 12 percent in the week to Thursday, data from Dutch consultancy PJK International showed.
The opening of barge traffic along the Rhine after months of disruptions due to low water levels has led to restocking in the refining and storage hub. Gasoline exports from the region also slowed down sharply in recent weeks. Most activity was focused in West Africa, with more than ten 37,000 tonne cargoes and at least three 60,000 tonne cargoes booked out of Europe this month, according to shipping data.