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US Gasoline Imports From EU Lowest Since 2020

OIL PRODUCTS

US gasoline imports from Europe in the week ending 26 Jan fell to the lowest since Oct 2020 according to bills of lading and ship-tracking data from Bloomberg.

  • European gasoline arrivals in the US fell to 84kbpd compared with 302kbpd in the previous week.
  • Seasonal gasoline inventories are at the lowest since 2012 with further concern for US production output during the upcoming refinery maintenance season. Total US gasoline inventories were last week 7.5% below normal according to EIA data.
  • US refining margins are currently at the lowest in about three weeks as weak demand is weighed against tight supplies and with high uncertainty over the impact of upcoming sanctions against Russia on global supplies.
    • US 321 crack down 0$/bbl at 35.19$/bbl
    • US gasoline crack down 0$/bbl at 27.43$/bbl
    • US ULSD crack up 0$/bbl at 50.73$/bbl
    • EU Gasoline-Brent up 0.3$/bbl at 14.27$/bbl
    • EU Gasoil-Brent down -0.2$/bbl at 32.97$/bbl
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