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Europe Gasoline/Naphtha-Cracks climb on overseas demand, turnarounds
LONDON, Oct (Shenzhen: 000069.SZ - news) 3 (Reuters) - Gasoline refining margins in northwest Europe edged higher on Monday, buoyed by demand for export cargoes and Atlantic (Shanghai: 600558.SS - news) basin refinery turnarounds.
* West African demand for European gasoline is expected to pick up significantly in October and November, partly because higher oil prices and crude production in Nigeria are bolstering the country's ability to import cargoes.
* Refinery turnarounds in Canada and in the Middle East were also boosting demand for exporting gasoline to the two regions from Europe, while maintenance in Europe was limiting supplies.
* A gasoline unit at PetroIneos' 220,000 bpd Lavera refinery in southern France has been shut, industry monitor Genscape said on Oct. 2.
* Phillips66 booked the Broom Trout to load a 60,000 tonne gasoline cargo in the U.S. Gulf on October 6 to go to the Middle East Gulf, according to shipping data and traders, in rare arbitrage. The final buyer could not be confirmed.
* Around 400,000-500,000 tonnes of reformate are expected to ship from Europe to China in October, but high inventories in China and strong European prices are limiting buying, according to traders.
* U.S. oil demand fell in July on a year-on-year basis for the first time in six months, as gasoline sales could not overcome weak distillate demand, the U.S. Energy Information Administration said on Friday.
* Qatargas will start operations at its new Ras Laffan 2 condensate splitter by the end of this month, doubling the Gulf state's capacity to process condensate and increasing its naphtha production, two sources with knowledge of the matter said on Monday.
GASOLINE
* Gunvor sold to Rolympus two barges of benchmark Eurobob at $496 a tonne fob ARA during the afternoon window.
* Another 4,000 tonnes traded earlier in the day at $500 a tonne fob Amsterdam-Rotterdam, up from $489-$492 a tonne on Friday. Statoil (LSE: 0M2Z.L - news) sold to Varo.
* Rolympus sold to Total (LSE: 524773.L - news) seven barges of premium unleaded gasoline at $509-$513 a tonne fob ARA, up from $506-$510 a tonne.
* The November swap stood at around $480 a tonne at the close.
* Gasoline barge refining margins rose to $10.89 a barrel from $10.46 a barrel on Friday.
* Brent crude oil futures for December delivery were up 24 cents a barrel at $50.43 by 1552 GMT.
* U.S. November RBOB gasoline futures were down 0.19 percent at 1.4603 a gallon.
* The U.S. gasoline crack (RB-CL1=R) was trading at $12.95 a barrel, down from $13.18 a barrel.
NAPHTHA (NAF-C-NWE)
* Trafigura sold a cargo to Shell (LSE: RDSB.L - news) at $422 a tonne cif NWE.
(Reporting by Ahmad Ghaddar)
