- Gasoline exports from Europe across the Atlantic are set to surge as traders plug supply gaps after Harvey crippled U.S. Gulf Coast refineries, Reuters reports.
- Traders have tentatively booked this week nearly 40 tankers, the equivalent of ~1.5M metric tons of gasoline - triple the amount exported in a typical week - out of Europe to carry gasoline on the transatlantic route, including to destinations such as New York, Mexico and Brazil, according to shipping data and traders.
- At least five cargoes have been definitively booked by traders Valero (NYSE:VLO), BP, Petrobras (NYSE:PBR) and Mercuria out of Europe to go to Brazil, Peru and Mexico, as freight rates between Europe and the U.S. for a 37K-ton refined product tanker doubled over the past week to ~$16K/day, Reuters reports.
- ETF: UGA
- Now read: Natural Gas Under Pressure While Inventories Reflect Improving Fundamentals
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Europe gasoline exports across the Atlantic set to surge on Harvey outages
Published 08/31/2017, 08:32 AM
Europe gasoline exports across the Atlantic set to surge on Harvey outages
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