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Europe to US Gasoline Falls Week Ended Oct. 5

OIL PRODUCTS

European gasoline arrivals into the US dropped 39% w/w for the seven days ended October 5 according to Bloomberg analysis of bills of lading and vessel tracking.

  • Imports dropped to 202k bpd vs 329k bpd the week prior. It’s the lowest pace since the week ended September 14.
  • US gasoline stocks have climbed through September as demand has fallen after the summer driving season. OPIS and GasBuddy data places US gasoline demand around the ~8.5mn bpd range, much higher than the latest weekly read by the EIA showing a proxy figure at the 8mn bpd mark.

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