Northwest European gasoline refining profit margins fell sharply to $12.48 a barrel on Friday on higher regional inventories and as trading liquidity fell.
No Eurobob E10 barges traded.
A total of 8,000 metric tons of Eurobob E5 traded, with Trafigura and Vitol selling to Litasco and Shell.
Oil product stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by over 2% on the week, data from Dutch consultancy Insights Global showed.
Gasoline stocks rose 6.3% to 1.46 million metric tons on increased blending activity and lower exports, Insight Global’s Rick Veringmeier said.
Oil prices fell nearly 8% on Friday, heading for their lowest close since the middle of the pandemic in 2021, as China ramped up tariffs on U.S. goods in the most serious escalation in a global trade war that has investors worried about a recession.
China announced it will impose additional tariffs of 34% on all U.S. goods from April 10. Nations around the world have readied retaliation after Trump raised tariff barriers to their highest in more than a century, leading to a plunge in world financial markets.
EU and UK gasoline and blending component exports to other regions reached 870,000 barrels per day (bpd) in March, Kpler data shows, up slightly from 861,000 bpd in February.
Source: Reuters