By Ron Bousso

LONDON, July 4 (Reuters) – At least two tankers carrying gasoline-making elements have dropped anchor off New York Harbor for almost per week, unable to discharge their cargoes within the newest signal that storage for the gas is operating out, merchants mentioned.

Several tankers with gasoline have additionally been diverted from the New York area to Florida and the U.S. Gulf Coast in current days, a uncommon transfer that underscores oversupply within the pricing hub for the benchmark U.S. gasoline.

The extra within the midst of summer season demand for the motor gas casts a shadow of the profitability of refineries, and thus their demand for crude oil over the approaching months.

U.S. gasoline refining margins <1RBc1-CLc1> dropped final week to their lowest since February at round $13.61 a barrel after gasoline inventories posted an unseasonably massive construct.

The builds had been a results of greater output from U.S. refineries in addition to a rise in imports, information from the U.S. Energy Department confirmed. At the identical time, information prompt decrease U.S. consumption than beforehand indicated.

The 74,000 tonne tanker Emerald Shiner, carrying a cargo of alkylite from the west coast of India has been anchored off the New York Coast since June 28, in line with Reuters delivery information and merchants.

The 37,000 tonne Energy Progress, with a cargo of reformate from Turkey, has equally been ready outdoors New York since June 28.

Furthermore, a minimum of three cargoes of gasoline from Europe, which closely depends on exports to the U.S. East Coast, have been diverted in current days from New York Harbor to Florida and the U.S. Gulf Coast, ship monitoring confirmed.

Those embrace the tankers Energy Patriot, Seasalvia and Ance.

“Tanks are full to the brim in New York Harbor,” a dealer mentioned.

Global gasoline shares have risen steadily in current months as refiners ran at full steam on expectations of robust demand this summer season, notably within the United States and Asia.

With dropping income from producing gasoline, refiners are more and more shifting to creating diesel and jet gas. (Editing by William Hardy)

(c) Copyright Thomson Reuters 2016.