Gasoline Refining Margins Hit 4-Year High as ARA Stocks Plunge
XOM sits 45% above its 52-week low of $108.35 on light trading volume (0.2× avg).
Summary
Northwest European gasoline refining margins jumped to $46.74 a barrel, the highest since mid-2022, as ARA inventories fell 14% to a near five-year low of 752,000 metric tons. Exxon Mobil was an active seller of E10 barges, moving 16,000 tons to buyers including Varo, MB, and BP. This margin strength directly benefits Exxon's downstream earnings, which already posted record Q2 results of $14.5 billion. The stockdraw reflects higher exports and limited imports, with Rhine water levels improving. Watch for sustained margin strength into Q3 earnings.
At the time of this announcement, XOM was trading at $157.25 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $646.6B. The 52-week trading range was $108.35 to $176.41. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.