Cracks weaken amid slow exports

Northwest European gasoline refining margins slightly declined to $24.50 a barrel on Friday amid weak export activity and rising U.S. inventories.

• Northwest European gasoline flows so far in June to the United States and West Africa were estimated at 760,000 tonnes, after 1.45 million tonnes were shipped out in May, Refinitiv tracking showed.

• Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub were broadly steady at 1.34 million tonnes over the past week, data from Dutch consultancy Insights Global showed.

• U.S. gasoline stocks (USOILG=ECI) rose by 2.7 million barrels in the week, the Energy Information Administration (EIA) said on Wednesday, compared with analysts' expectations for a 880,000-barrel rise.

• Phillips 66 is shutting its fluid catalytic cracker at its 285000-barrel-per-day Bayway refinery in Linden, New Jersey for approximately 2 weeks for repairs, according to a source familiar with the matter.

• Repairs are set to start early next week, according to the source.

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