Europe Gasoline/Naphtha-Gasoline refining margins fall

LONDON, Nov 03 (Reuters) - Northwest European gasoline refining margins fell around $1.70 on Tuesday to $9.84 even as oil prices continued their decline.

• Equinor sold six cargoes of Eurobob E5 to TotalEnergies in the session

• Additionally, 22,000 metric tons of Europbob E10 traded in the session, with Shell, Gunvor and Exxon selling to Varo, TotalEnergies and MB Energy

• Oil prices slid about 2% to a three-week low on Tuesday in volatile trade as the market weighed talks to end the wars in Ukraine and Iran against worries about additional supply disruptions from recent attacks in both conflicts O/R

• Orlen's PKN.WA Lithuanian refinery unit risks closure without major investment by the Polish energy group in an upgrade to more profitable production, CEO Ireneusz Fafara told the Polish Press Agency

• Kuwait's Q8 said that its Italian unit would cut the pre-VAT price of diesel and gasoline by 20% for customers in the agriculture and fishing sectors until the end of December

• Exxon plans to shut the gasoline-producing fluidic catalytic cracker (FCCU) at its 612,000-barrel-per-day (bpd) Beaumont, Texas refinery at the end of November for an overhaul, said people familiar with the company’s plans

• The Alliance for Automotive Innovation, a group representing major automakers, on Monday backed the Trump administration in a legal challenge to its sharply lower vehicle fuel economy standards filed by California and other states

• The Transportation Department said the rule would increase US gasoline consumption through 2050 by 4.6%, or about 121 billion gallons, compared with the Biden rules but also boost new car sales