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Northwest European Gasoline Margins Extend Gains, Closing Above $43
Northwest European gasoline refining margins extended their gains for a second consecutive session on Friday, rising by $1.74 to settle at $43.39 per barrel.
Trading Activity
The market saw significant barge trading activity, according to reports. Key transactions included:
- E5 Gasoline: Approximately 2,000 metric tons were traded, with ExxonMobil selling to TOTSA.
- E10 Gasoline: A larger volume of 16,000 metric tons changed hands, with Shell selling to TOTSA.
AdRegional Market Factors
In related news, China's National Development and Reform Commission announced it would reduce domestic retail price caps on both gasoline and diesel starting Saturday. The move marks the fifth such reduction implemented by the country this year, a development watched by global energy markets for its potential impact on demand.
Earlier in the week, an explosion at a petroleum products storage facility in the Netherlands' Rotterdam port resulted in one death and six injuries. The port is Europe's largest and a critical hub for crude oil and fuel storage, housing major refineries operated by Shell, BP, and ExxonMobil. Police are reportedly still investigating the cause of the incident.
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