A decline in clean products margins — driven by increasing refnery production and concerns over rising Covid-19 infections — has highlighted the potential fragil- ity of the European oil sector’s recovery (see graph). Eurobob oxy gasoline’s premium to North Sea Dated crude narrowed by $1.20/ bl to a two-week low of $1.67/bl. Decreasing amounts held in storage and rising demand at the pump were ofset by a fall in exports and increasing refnery production within the region.
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