Gasoline margins ease near four-year high as Houthis blockade

AI Summary

Refining margins for Northwest European gasoline eased slightly from a near four-year high amid a blockade declared by Yemen’s Houthis against Saudi Arabia. The blockade poses supply disruption risks for the Red Sea maritime corridor, affecting gasoline trading volumes regionally.

Northwest European gasoline refining margins decreased by approximately $1 to reach $44.43 per barrel on Monday. The margins remained close to a four-year high as Yemen’s Houthis declared a blockade on Saudi Arabia, creating potential supply disruptions through the Red Sea. Trading activity on Argus showed 6,000 tons of Eurobob E5 barges changed hands, with ...