Northwest European Gasoline Margins Rise Amidst Crude Oil Price Drop
Gasoline refining margins in Northwest Europe increased to $26.44 per barrel, despite a decline in crude prices. This shift indicates potential market adjustments amidst rising gasoline inventories and changing demand dynamics.
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On Friday, Northwest European gasoline refining margins rose by $1.49 to $26.44 per barrel, contrasting with falling crude oil prices. Gasoline inventories in the Amsterdam-Rotterdam-Antwerp hub increased over 10% to 1.14 million metric tons, driven by recent transactions including TotalEnergies selling Eurobob E10 to MB Energy.
Additional sales of Eurobob E5 gasoline by Equinor and BP further contributed to this rise. The U.S. gasoline market is experiencing a supply shortage as the summer driving season nears, influenced by strong domestic demand and rising fuel exports. The situation could lead to increased prices at the pump as inventory pressures build.
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