Europe Gasoline/Naphtha Gasoline crack edges lower

1 minute read
Register now for FREE unlimited access to

Feb 24 (Reuters) - Benchmark northwest European gasoline barge refining margins fell further on Thursday as oil futures skyrocketed following Russia's invasion of Ukraine.

  • The global oil market was thrown into chaos on Thursday after Russia invaded Ukraine, with top buyers of Russian oil struggling to secure guarantees at Western banks or find ships to take crude from one of the world's largest producers. read more
  • Brent futures rose as high as $105 a barrel after Russian troops entered Ukraine. Gasoline was less immediately impacted since Russia is not a major exporter of the product.
  • Gasoline stocks fell slightly to 1.19 million tonnes on stronger exports on transatlantic routes and to West Africa, data from Dutch consultancy Insights Global showed.
  • U.S. gasoline stocks (USOILG=ECI) fell by about 600,000 barrels in the week to 246.48 million barrels, the Energy Information Administration said, much less than forecasts for a 1.4 million-barrel draw. read more
Register now for FREE unlimited access to
Reporting by Julia Payne in London Editing by Matthew Lewis

Our Standards: The Thomson Reuters Trust Principles.