16 April 2008 09:59 [Source: ICIS news]
LONDON (ICIS news)--Benchmark 10ppm gasoline barges struck a new record high on Wednesday, with barges being traded at $967/tonne (€609/tonne), $2/tonne up from last Thursday's previous record high, brokers said.
The trade involved around 8,000 tonnes of material sold on an FOB (free on board) ARA (Amsterdam, Rotterdam, Antwerp) basis.
Morning trades were done in a $963-967/tonne ?xml:namespace>
Gasoline prices on both sides of the Atlantic were experiencing upward pressure due to strong crude oil futures and reduced gasoline stock levels in the
The fall in stock level in the US, according to the EIA, was a result of lower production levels by US refiners due to poor refining margins and a lower level of imports into the US.
Sources in the market forecast that demand for gasoline would be lower than normal during the forthcoming
($1 = €0.63)
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