Petrol refining margins in Northwestern Europe fell to around $13.90 a barrel on Friday as US stockpiling this week looked set to hit demand and ahead of an EU embargo and international sanctions on Russian petroleum products that threatened to disrupt global flows.
Gasoline stocks held in independent storage at the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area fell nearly 1% to 1.4 million tonnes in the week to Thursday, according to firm data. Dutch consultancy firm Insights Global.
The drop is due to higher exports to the United States, he added.
But northwest Europe’s gasoline exports to the United States are expected to fall this week to 185,000 tonnes, from 325,000 tonnes the previous week, according to Refinitiv analysis.
U.S. gasoline inventories rose 2.6 million barrels in the week ended Jan. 27 to 234.6 million barrels, the Energy Information Administration said Wednesday.
Source: Reuters
