European gasoline margins rise as oil falls

Northwest European gasoline barge refining margins rose on Friday as oil prices fell. Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub dropped by almost 7% in the week to Thursday, data released by Insights Global showed. Arrivals of European gasoline and gasoline components to the United States have remained low at about 395,900 tonnes so far in January, Refinitiv Eikon data showed. Last month, Europe exported around 990,900 tonnes of gasoline and components to the United States.

US oil refiners are expected to have 1,098,000 barrels per day (bpd) of capacity offline for the week ending Jan. 24, decreasing available refining capacity by 552,000 bpd from the previous week research company IIR Energy said. Offline capacity is expected to fall to 578,000 bpd in the week ended Jan. 31 and rise to 705,000 bpd in the subsequent week. Lyondell Basell Industries restarted the large crude distillation unit (CDU) at its 263,776-bpd Houston refinery on Thursday night, sources familiar with plant operations said. The 147,000 bpd Unit 537 CDU was shut on Jan. 15 because of clogging of the desalter section of the unit.

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