Europe Gasoline/Naphtha Gasoline cracks end week higher on firm demand

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Feb 25 (Reuters) - Benchmark northwest European gasoline barge refining margins fell to around $9.5 a barrel on Friday, but ended the week higher as demand firmed.

  • Exports of gasoline from Northwest Europe to the United States was stable week-on-week, at around 109,000 tonnes, according to Refinitiv Oil Research.
  • Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) fell slightly to 1.19 million tonnes on stronger exports on transatlantic routes and to West Africa, data from Dutch consultancy Insights Global showed.
  • Oil tanker rates are soaring globally as traders scramble to cope with jitters over possible disruption in Russian supplies as well as war risk premiums for ships plying the Mediterranean region following Moscow's invasion of Ukraine. read more
  • 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
  • China has ramped up purchases into its oil reserves this year even as oil prices soared, despite calls from Washington for a global coordinated stocks release to help cool the market, industry data showed and traders said. read more
  • Exxon Mobil Corp (XOM.N) and the United Steelworkers union (USW) reached tentative agreement on Thursday for workers locked out of a Beaumont, Texas, refinery to return to work in early March, said sources familiar with the matter. read more
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Reporting by Bozorgmehr Sharafedin; Editing by Amy Caren Daniel

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