Equinor and Trafigura sell gasoline as margins drop on crude surge in Oil & Companies News 03/06/2026 Northwest European gasoline refinery margins fell $3.64 to $20.58 a barrel on Monday as underlying crude prices jumped. About 8,000 metric tons of E5 gasoline barges traded in the Argus window as Trafigura and Equinor sold to Shell. Around 3,000 tons of E10 gasoline barges changed hands, with Petroineos selling to Van Raak, alongside an assessed 1,000 tons. Oil prices surged more than $6 per barrel on Monday after Iran’s Tasnim news agency reported that Tehran’s negotiating team has halted message exchanges with the United States. The report added that Iran and its allied “Resistance Front” are considering measures to completely block the Strait of Hormuz and choking other waterways including the Bab el-Mandeb Strait. A drop in exports also weighed on European values. EU-27 and UK gasoline and blending component exports averaged 811,000 barrels per day in March, compared with an average of 954,000 barrels per day in April, Kpler data showed. The decline in refinery margins came as the increase in crude costs compressed profitability for gasoline production in the region. Source: Investing.com 2026-06-03 hellenicshippingnews... tweet Share