Europe Gasoline/Naphtha Gasoline cracks rise as inventories fall

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March 2 (Reuters) - Benchmark northwest European gasoline barge refining margins rose to around $4.4 a barrel on Wednesday, as U.S. inventories dropped.

  • U.S. gasoline stocks (USOILG=ECI) fell by 468,000 barrels last week to 246 million barrels, the Energy Information Administration said. read more
  • U.S. refinery crude runs (USOICR=ECI) rose by 152,000 barrels per day (bpd) in the last week, EIA said.​
  • OPEC+ oil producers agreed on Wednesday to stick to their plans for a modest output rise in April, ignoring the Ukraine crisis during their talks and snubbing calls from consumers for more crude even as prices rocketed higher. read more
  • The United States is "very open" to imposing sanctions on Russia's oil and gas industry as it also weighs the potential market impact, the White House said on Wednesday as global oil prices touched eight-year highs and supply disruptions mounted. read more
  • Global commodities trader Trafigura has frozen its investments in Russia in the wake of Moscow's invasion of Ukraine, it said.
  • Two crude oil tankers due to load Russian Urals and Kazakh CPC blend this week have been cancelled as a result of Russia's invasion of Ukraine, sources with direct knowledge of the matter told Reuters.
  • Marathon Petroleum Corp (MPC.N) plans to cut production for up to a month at its 593,000 bpd Galveston Bay Refinery in Texas City, Texas, as repairs continue on residual hydrotreating units (RHUs), sources familiar with the situation said. read more
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Reporting by Bozorgmehr Sharafedin

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