Northwest Europe Gasoline Margins Rise to $47.62 Despite Surprise US Inventory Build

Gasoline refining margins in Northwest Europe advanced on Wednesday, showing strength amid a busy trading session despite bearish inventory data from the United States.

Margin Gains and Trading Activity

Refining margins for gasoline in the region rose by $0.68 to settle at $47.62 per barrel, according to market data. Trading was active, with a total of 20,000 metric tons of gasoline barges changing hands.

• E5 Gasoline: A volume of 10,000 metric tons was traded, with ExxonMobil as the seller and Gunvor, ATL, and BP as buyers.
• E10 Gasoline: An additional 10,000 metric tons were sold by TotalEnergies to a group of buyers including Trafigura, ExxonMobil, BP, and MB Energy.

US Inventories Defy Expectations

The margin strength was notable as it came in the face of data pointing to softer U.S. demand. The U.S. Energy Information Administration (EIA) reported that domestic gasoline stockpiles unexpectedly increased by 794,000 barrels last week, bringing the total to 207.7 million barrels.

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This result ran contrary to analyst forecasts, which had anticipated a decrease of 1 million barrels. A surprise inventory build is typically a bearish signal for prices, as it suggests consumption is weaker than anticipated.

Broader Market Context

In other energy market news, the Russian government is reportedly planning to extend restrictions on diesel fuel exports until the end of October. The news was reported late Tuesday by the Russian newspaper *Vedomosti*, which cited two anonymous sources.

While the measure specifically targets diesel, prolonged curbs on Russian refined product exports can tighten the global fuel market, potentially lending background support to prices across the energy complex.