Gasoline exports from Europe to the US East Coast continued to rise, reaching a total of around 1.14 million tonnes for loading in the first half of July so far, according to shipping data.

The July volume represents an almost 40pc increase from the previous three months, according to the data.

The flurry of exports was sparked following a fire at the 335,000 barrel per day (bpd) Philadelphia Energy Solutions refinery on June 21.

Gasoline stocks in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by 9.4pc in the week to Thursday, data from Dutch consultancy Insights Global showed.