Northwest European gasoline refining margins increased by $0.35 on Friday to $22.20 per barrel, a move market participants linked to lower regional inventories.
Trading showed active barge flows during the session. About 10,000 metric tons of Eurobob E10 gasoline barges were transacted in the Argus window, with BP and Petroineos selling to MB Energy, Varo and Trafigura. In addition, roughly 7,000 metric tons of Eurobob E5 gasoline barges changed hands; Trafigura and Equinor sold cargoes to MB Energy and Gunvor. Separately, Shell sold an E5 barge to BP in the Platts window.
Across the Mediterranean market, a June 22-26 cargo was traded when Trafigura sold to Vitol at a $9 per ton premium to the June Mediterranean contract on a FOB Augusta basis.
Data from Dutch consultancy Insights Global, released Thursday, showed a 7% week-on-week reduction in ARA gasoline stocks to 1.03 million tons. Lars van Wageningen of Insights Global attributed the decline to substantial export flows to the United States, the Mediterranean and West Africa.
Summary of reported flows and market moves:
- Refining margin: up $0.35 to $22.20 per barrel on Friday.
- Argus-window E10 activity: ~10,000 metric tons traded; sellers BP and Petroineos; buyers MB Energy, Varo and Trafigura.
- E5 barge trades: ~7,000 metric tons moved; sellers Trafigura and Equinor; buyers MB Energy and Gunvor; an E5 barge was also sold by Shell to BP in the Platts window.
- Mediterranean cargo: Trafigura sold a June 22-26 cargo to Vitol at a $9/ton premium FOB Augusta.
- Inventories: ARA gasoline stocks down 7% to 1.03 million tons, per Insights Global.
The reporting captures participant-level barge and cargo transactions and a consultancy inventory snapshot, but does not provide forward-looking details on whether the inventory draw or margin level will persist. The inventory decline was explicitly linked by Insights Global to export flows out of the ARA region toward the United States, the Mediterranean and West Africa.