Northwest European gasoline refining margins ended higher on Friday, boosted by falling global stocks. Total main product stocks in key areas (USA, ARA independent storage, Singapore, Japan) fell by 6.1 million barrels week-on-week, consultancy FGE said. Total main product stocks are some 20 million barrels higher year-on-year. Light distillate inventories fell by 2.15 million barrels but are 21.5 million barrel higher year-on-year (15 million barrels of which are in the USA), FGE said.

Non-US entities buying oil or petroleum products from Venezuela's state-owned PDVSA in deals that involve the US financial system, brokers or people must be wound down by April 28, the US Treasury Department said in a notice posted early on Friday. Gasoline arrivals into Venezuela through November and December held at 97,000 bpd, according to data intelligence firm Kpler. January arrivals were down slightly against 2018 year-end levels, but still managed to finish at 86,000 bpd, marking a 64 kbd year-on-year increase, Kpler said.

Copyright Reuters, 2019