The drop in shipping volumes highlights the dire state of oversupply in the East Coast. Gasoline inventories in the region fell by 1.3 million barrels last week to 67.6 million barrels, just shy of the five-year high for this time of year, according to the US Energy Information Administration. Gasoline stocks in the Amsterdam-Rotterdam-Antwerp hub fell by 2.36 percent in the week to Thursday to 869,000 tonnes, data from Dutch consultancy PJK International showed. The longer than expected refinery shutdowns in Germany and Switzerland were driving up demand for barges from ARA.
No barges of Eurobob gasoline traded in the afternoon trading window. No bids or offers emerged.
Outside the window, 22,000 tonnes of eurobob barges traded at $475.75-$487.50 a tonne fob Amsterdam-Rotterdam, compared with $479-$488 a tonne on Wednesday. Phillips 66, Shell, Total, and CCI sold to BP. No barges of premium unleaded gasoline traded. Bid and offer discussions emerged at $488-$489 a tonne fob ARA, compared with trading levels of $484 a tonne the previous day.
Trafigura bid for a fob Mediterranean cargo at $457 a tonne. The July swap stood at $477.50 a tonne at the close, up from $474.50 a tonne the previous day.
Brent crude futures were 84 cents a barrel higher at $45.55 at 1536 GMT. The benchmark ebob gasoline refining margin was at $12.54 a barrel, down from $13.49 a barrel.