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Northwest European Gasoline Margins Climb for Second Straight Session
Gasoline refining margins in Northwest Europe extended their gains for a second consecutive session on Friday, rising by $1.74 to settle at $43.39 per barrel.
Trading Activity
The physical market saw significant activity during the trading window. Key transactions reported on Friday included:
- Approximately 2,000 metric tons of E5 gasoline barges sold by ExxonMobil to TOTSA.
- A larger volume of 16,000 metric tons of E10 gasoline barges traded from Shell to TOTSA.
AdRegional and Global Factors
The price movement comes as the market continues to assess the impact of an explosion earlier in the week at an oil product storage facility in the Port of Rotterdam. The port is Europe's largest and a crucial hub for crude oil and fuel, hosting major refineries operated by Shell, BP, ExxonMobil, and Vitol. An investigation into the cause of the fatal incident is ongoing.
Meanwhile, in a development relevant to global demand, China's National Development and Reform Commission announced on Friday it would lower its retail price caps for both gasoline and diesel starting Saturday. The move marks the fifth such reduction by the state planner this year.
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