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Northwest European Gasoline Margins Rise to Over $39 a Barrel on Tight Supply
Northwest European gasoline refining margins jumped by nearly $3 to $39.25 per barrel on Tuesday, as tight market conditions and limited available supplies continued to support prices.
Trading Activity Highlights Supply Constraints
The market saw significant trading activity, underscoring the current supply dynamics. A total of 10,000 metric tons of E5 gasoline barges were traded, with oil majors Trafigura, ExxonMobil, and Equinor selling to TOTSA.
An additional 11,000 metric tons of E10 barges changed hands, according to market reports. In these transactions, Exxon, Sahara, and Shell sold cargoes to Varo, ATL, and MB Energy.
AdGlobal Market Context
Broader market factors are also influencing the energy landscape. In the Middle East, Saudi Aramco has reportedly restarted oil loading operations from within the Strait of Hormuz, with tankers awaiting heavy crude cargoes being offered for spot trade. This development is being closely watched for its potential impact on global crude flows.
Meanwhile, customs data from China provided a mixed signal on refined product availability. According to figures released Tuesday, July exports of refined oil products fell by 12.9% year-over-year but increased by 6.7% from June, as relaxed export restrictions allowed refiners to ship more fuel overseas.
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