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European Gasoline Facing Unfavourable Arbitrage Economics: Platts

OIL PRODUCTS

Traders are watching arbitrage windows closely for gasoline, although the economics remain unfavourable for exports from the ARA, according to Platts Oil Market Podcast.

  • The US is well supplied and there isn’t attractive arbitrage economics for the transatlantic, Platts said.
  • There is a similar story in WAF, which is a key outlet for European gasoline, Platts added.
  • Hopes for exported to WAF have been dashed amid the ramp up of the 650k b/d Dangote refinery. This is despite the refinery not likely to produce any gasoline until at least Q3.
  • Reportedly NNPC are still buying for July and August still, but there is still a wait and see approach in the market, Platts said.
  • Nigeria had already been taking lower volumes over the past few months, putting downward pressure on the European market.
Energy BulletsHomepagemarkets-real-timeBulletCommoditiesCEEMEA
Energy BulletsHomepagemarkets-real-timeBulletCommoditiesCEEMEA

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