Northwest European gasoline profit margins fell by $1.70 to $23.34 a barrel on Friday after rising in the previous session, despite concerns around supply shortages.

A total of 10,000 metric tons of Eurobob E5 gasoline barges traded as Equinor, Sahara and Trafigura sold to TotalEnergies, Varo, ExxonMobil and Shell.

No Eurobob E10 gasoline barges traded in the session.

China’s Sinochem has shut one of the crude units at its Quanzhou site in southeastern China, following a fire incident on Thursday, trade sources said on Friday.

This in part led to Asia’s gasoline profit margins (GL92-SIN-CRK) rallying to the highest level since August 2023.

Russia’s Saratov oil refinery on the Volga river stopped primary oil refining on November 11 following Ukrainian drone attacks, two industry sources said. It produced 1.2 million tons of gasoline in 2024.

Its Black Sea port of Novorossiysk temporarily suspended oil exports — equivalent to 2% of global supply — according to industry sources, after a Ukrainian missile and drone attack.

Meanwhile, Britain paused sanctions that will allow Bulgaria’s Burgas refinery and related petrol stations, owned by Russia’s Lukoil, to keep doing business with companies and banks until February 14.

The U.S. is expected to issue a similar licence regarding the Bulgarian entities later today, a source close to the matter told Reuters.
Source: Reuters