LONDON: Gasoline refining margins in northwest Europe fell on Thursday on slowing demand and a sharp rise in regional stocks.

Gasoline stocks held in independent storage tanks at the Amsterdam-Rotterdam-Antwerp storage and refining hub rose 18 percent in the week to Thursday, according to data from Dutch consultancy PJK International.

But US inventories fell to 209.5 million barrels last week, the lowest weekly level since November 2014, according to US Energy Information Administration data.

U.S East Coast gasoline inventories fell to 52.4 million barrels in the week to Nov. 3, the lowest weekly figure since December 2014.

Traders said export activity to the US was picking up as a result of the fall.

About 450,000 tonnes of gasoline and blending components are expected to be exported from northwest Europe to the Middle East and Pakistan in the first half of November, according to traders and shipping data.

No trades of Eurobob gasoline barges emerged in the afternoon trading window. Bids emerged at $630 a tonne.

Earlier in the day 20,000 tonnes traded at $632-$638 a tonne fob Amsterdam-Rotterdam, compared with $637-$638 a tonne in the previous session. Shell, Total, BP and Statoil sold to Gunvor and BP.

Shell sold to Total two barges of premium unleaded gasoline at $638-$640 a tonne fob ARA, compared with $641 a tonne the previous day.

The December swap stood at $606 a tonne at the close, up from $601 a tonne.

The benchmark EBOB gasoline refining margin declined to $11.26 a barrel from $11.95 a barrel.

Brent crude futures were up 44 cents to $63.93 a barrel at 1704 GMT.—Reuters