The shipment, which trade sources said was larger than usual, has been from its refining system in Europe and it has been done off the spot market, they said. In general, the spot arbitrage window has been very limited.

“They have recently been moving directly to their own system. So it is difficult to know quite how much is moving,” said one of the sources.

Benchmark European gasoline prices fell to about $912-$913 a ton on Friday from about $933 on Thursday. However freight rates responded to the shipment, with rates on route TC2 from Rotterdam to New York having risen since mid-September.

A ConocoPhillips spokeswoman declined to comment.

The company, which has moved to get rid of what it considers unprofitable operations, has already begun to idle the 185,00 barrels-per-day refinery and will close it permanently within six months if a buyer is not found.