Northwest European gasoline refining margins were largely unchanged on Monday, remaining close to $40.60 per barrel as transaction activity across the region rose.
Market participants recorded several bulk gasoline barge trades during the session. In total, 22,000 metric tons of E5 gasoline barges were traded. Sellers in those E5 transactions included ExxonMobil, Glencore and Varo, while Trafigura and TOTSA purchased the cargoes.
In addition to the E5 volumes, 8,000 metric tons of E10 gasoline barges changed hands. Those E10 cargoes were sold by ExxonMobil and Sahara to Varo. Separately, Varo also sold an E5 barge to Trafigura in the Platts window.
On the supply side of the market, Saudi Aramco (TADAWUL:2222) Chief Executive warned on Monday that pressure on crude oil and refined fuels will intensify. The executive said it could take up to two years to replenish global stockpiles that had been used as an emergency measure.
Refinery output patterns are also shifting. BP (LSE:BP) Chief Executive Officer Meg O'Neill told attendees at the Energy Intelligence conference in London on Monday that the company has adjusted refinery operations to move capacity away from jet fuel and toward diesel production.
The combination of steady margins, active barge trading and comments from major producers and refiners framed the market tone on Monday. Though margins themselves showed little movement, the detailed trade flows and public statements from industry leaders highlighted ongoing dynamics in supply, inventory replenishment and product allocation within European refined fuels markets.
Market details at a glance:
- Gasoline refining margins - about $40.60 per barrel on Monday.
- Volumes traded - 22,000 metric tons of E5 and 8,000 metric tons of E10 gasoline barges.
- Notable counterparties - ExxonMobil, Glencore, Varo, Trafigura, TOTSA, Sahara.
- Industry signals - Saudi Aramco CEO: replenishing emergency stocks could take up to two years; BP CEO: refinery shifts from jet fuel to diesel.