European flows petrol mainly toward the USAjumping this month, according to the seasonal trend and a moderate improvement in the market after the initial chaos caused by US duties.
Transatlantic gasoline flows from the European Union and the United Kingdom were jumped to about 485,000 barrels a day in the first 15 days of April, according to Kpler data. This includes about 348,000 barrels daily sailing to the US and Canada, the highest level since August and more than double the average monthly flows in both March and February.
“It seems that some exporters may have been held in the first stages of tariff announcements,” said Roland Auer, a Kpler analyst.
Petrol reserves on the east coast of the US, the main outlet for European barrels, have declined in recent weeks, but remain close to the highest end of their historical range for this time of year.
Europe has also sent more gasoline to West Africa so far this month, partly due to problems at the Dangote Refinery in Nigeria, Auer said. However, the bulk of the loads is intended for Togo, probably due to “winter quality barrels”.