Gasoline, naphtha prices firmer in Europe after US data

22-Apr-11

Gasoline barge prices in NW Europe rose in line with rising crude oil prices on report of bullish US inventory data. However, trading has been limited ahead of the Easter holiday long weekend as per Reuters. Gasoline stocks are down for a ninth consecutive week but analysts at Commerzbank expect oil product inventories to increase in the weeks ahead, as refineries have mostly completed maintenance and are raising production again in response to healthy refinery margins. The sharp rise in gasoline and diesel prices is estimated to have an impact on demand, resulting in below-average driving activity.