Northwest European gasoline margins fall to October lows

Northwest European gasoline refining margins dropped to their lowest level since October, falling by over $28 on Wednesday to $8.38 per barrel, according to Investing.com. The decline came as oil prices surged by more than $3, reaching $92.87 per barrel by 1738 GMT on Wednesday. Shell transferred one Eurobob E5 cargo to Gunvor within the Argus window, while Exxon and Unipec sold to Varo, BP, and Trafigura.

Around 12,000 metric tons of Eurobob E10 also changed hands. Oil prices had previously hit a two-month low of $89.16 in the prior session. US crude oil and product inventories were anticipated to have declined last week, with gasoline stocks projected to have decreased by approximately 100,000 barrels, as indicated by an extended poll published on Tuesday.

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