Northwest European gasoline refining margins climbed sharply on Monday, gaining close to $3.50 to settle at $35.52 per barrel. Market participants recorded a busy trading session for gasoline barges, while wider oil-market dynamics reflected growing supply-risk sentiment.
Barge transactions and counterparties
Trading screens showed roughly 8,000 metric tons of gasoline E5 barges were exchanged during the session. Sellers on these parcels included Equinor and Exxon Mobil, while buyers were BP and TotalEnergies.
In addition to the E5 trade, roughly 16,000 metric tons of gasoline E10 barges changed hands. Sellers on these cargoes included Exxon Mobil, Gunvor, Shell and Finco; purchasers were Varo, TotalEnergies and MB Energy.
Oil-price drivers and regional disruptions
Oil benchmarks climbed about 3% on Monday after Iran said the United States must lift sanctions, pay reparations and satisfy additional conditions before the Strait of Hormuz could be reopened. That development contributed to an overall risk-on tone in crude and refined product markets.
Separately, industry monitor IIR reported that Saudi Aramco pushed back the restart of its Jazan refinery, a 400,000-barrel-per-day facility, to August 30. The delay follows two Houthi attacks since late July, according to the IIR alert.
Compounding regional supply concerns, Ukraine’s military stated on Monday that it struck the Taneko oil refinery in Russia’s Tatarstan region overnight and that a fire was recorded at the site.
Market context and implications
The combination of active refined product trades and heightened geopolitical risk supported a notable lift in Northwest European gasoline refining margins. The reported barge transactions illustrate ongoing physical demand and repositioning among refiners and merchant traders, while the external supply-side incidents contributed to broader price support.