Northwest European gasoline refining margins rose sharply on Wednesday, climbing 53 cents to $39.78 per barrel, as regional supply constraints tightened following Ukrainian strikes on Russian refineries.
Trading volumes reached 16,000 metric tons of gasoline E5 barges, with sellers including Trafigura and Equinor and buyers including TOTSA, Varo, MB Energy and Petroineos. An additional 8,000 tons of gasoline E10 barges changed hands, with Exxon, Sahara and Shell as sellers and Varo and Trafigura among the buyers.
The supply squeeze has been exacerbated by Russia diverting nearly 270,000 metric tons of refined fuels to Asia via ship-to-ship transfers this month, aimed at addressing domestic fuel shortages. Moscow has reintroduced gasoline purchase limits at fuel stations due to the shortages and seasonal demand pressures.
Broader regional disruptions, including conflicts in Iran and Ukraine, have further strained global fuel supplies. This has supported refining margins for producers in India and the United States, where higher prices and strong import demand have coincided with the peak summer driving season in the Northern Hemisphere.
