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Europe’s Gasoline Cracks Ending Week Higher

OIL PRODUCTS

Northwest Europe’s gasoline refining margins are ending the week higher, according to Reuters citing trading data.

  • A total of 2k mt of Eurobob E10 traded June 21, with Shell selling to Varo.
  • 2k mt of Eurobob E5 was traded, with Shell selling to Mabanaft.
  • European oil refinery output in May was down 1.7% on the month to 9.13m b/d, a 3.8% year-on-year fall, Euroilstock data showed.
  • The data also showed gasoline output up 1.8% on the month to 2.29m b/d.
  • Stocks in the ARA fell this week, with exports up, both to the US and to less frequent destinations, such as Australia.
  • RBOB JUL 24 up 0.2% at 2.51$/gal
  • EU Gasoline-Brent up 0.8$/bbl at 15.88$/bbl

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