A bounty of supplies in the US Atlantic Coast gasoline market and a recent surge in European gasoline values shut an arbitrage window for shipments from Europe this week, sources say. Atlantic Coast gasoline stocks totaled 62.1 million barrels in the week that ended July 10, up 1.6 million barrels week on week and 1.5 million barrels higher than a year ago, according to US Energy Information Administration data. Meanwhile, imports of gasoline into the region, which have been strong all year and peaked at 797,000 b/d in the week that ended July 3, are starting to fall. Imports fell to 634,000 b/d in the week that ended July 10, a total which remains strong by historical standards — imports averaged 514,000 b/d in 2014 — and reflects an average of two cargoes a day. And looking forward, market observers expect import levels to slip yet further. Data from […]