Northwest European gasoline profit margins rose by nearly a dollar a barrel on Friday to $14.30 after the European Union announced its 18th sanctions package against Russia which includes measures aimed at dealing further blows to Russia’s oil and energy industries.

A total of 15,000 metric tons of Eurobob E5 gasoline barges traded, with BP and Trafigura selling to TotalEnergies, Gunvor, Shell, Aramco and Varo.

An additional 4,000 tons of Eurobob E10 barges traded with TotalEnergies selling to Varo and Trafigura.

The EU said it would no longer import any petroleum products made from Russian crude, though the ban will not apply to imports from Norway, Britain, the U.S., Canada and Switzerland.

China’s exports of refined fuels fell 0.6% year-on-year in June, according to the customs data, though the figure marked the highest monthly total since June 2024.

Gasoline exports from China stood at 780,000 tons in June, down 16.7% year-on-year. During January and June, gasoline exports fell 21% to 3.89 million tons.

EU and UK gasoline and blending component exports to other regions averaged 834,000 barrels per day (bpd) in July so far, lower than the 916,000 bpd in June, Kpler data showed.
Source: Reuters