US October gasoline imports hit post-pandemic low on slump in European shipments
21 November 2024
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“The arbitrage was largely closed until early November on the back of very bad economics from the EU,” Jorge Molinero, Sparta
Reuters, November 21, 2024 – U.S. October gasoline imports reached their lowest level since the post-COVID period, with significant drops from Europe and Asia, influenced by weak global demand. Sparta analyst Jorge Molinero noted that the transatlantic arbitrage was largely closed due to poor economics from Europe, although low U.S. East Coast stocks might encourage higher imports.