Europe competes for gasoline

摘要

Prices rose across the board,with gasoline and naphtha seeing the largest gains.Distillates rose after a dip in Russian exports,while fuel oil barge prices surged to record highs. Demand for summer grade gasoline drove prices higher by nearly 70/t.Prompt summer grade gasoline supplies are low across northern Europe,while demand has risen as traders and refiners try to cover local shortfalls.The arbitrage from Europe to the US remained open,further straining supplies.