European refineries are starting the second half of this year on a high note with margins returning to multi - year highs across Northwest Europe (NWE) thanks to a surge in global gasoline demand and weak crude prices in the Atlantic Basin. This bodes well for integrated oil majors who can expect another strong quarter of downstream earrings after hydrocracker yields per crude barrel neared three - year highs of $7.48 per barrel of Brent in mid - June -- just 9￠ shy of three - year highs reached in March.
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