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European Gasoline Bearish in the Coming Weeks: Kpler

OIL PRODUCTS

European gasoline is bearish in the coming weeks according to a report from Kpler. The Dangote startup and delayed opening of transatlantic arbitrage is expected to weigh on regional margins.

  • The start of the Dangote refinery will lower Nigerian gasoline import requirements from European refiners by about 200kb/d.
  • There could be a delayed opening of the transatlantic arbitrage ahead of the summer driving season if spring US turnarounds don’t significantly alter inventories.
  • Gasoline stockpiles on the US East Coast have continued to increase, “weighing on arbitrage economics from Europe.”

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