Northwest European gasoline refining margins were steady on Friday amid high stockpiles on both sides of the Atlantic and weak exports from the region.
Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area rose to 1.3 million tonnes in the week to Thursday as exports on the transatlantic routes remain subdued, according to Dutch consultancy Insights Global.
U.S. gasoline stocks rose by 2.5 million barrels, in line with analysts’ expectations for a 2.1 million-barrel rise.
Oil blend calculated in roubles has declined to a two-year low this month, tracking global oil prices, Reuters calculations showed on Friday.
December gasoline exports from northwestern Europe to the United States are at 470,000 tons, down from 805,000 tons in November, and chartering activity is expected to remain subdued, hampered by rising U.S. stocks and low demand for gasoline during the winter, according to Refinitiv analysts.
On the route to West Africa, no cargoes were spotted on the journey this week, according to the latest available data. December flows to WAF are at 520,000 tons so far, a multi-year low, the Refinitiv analysts said.
