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Europe Gasoline/Naphtha-Cracks firm as global gasoline tightens

Reuters - UK Focus

LONDON, Oct (HKSE: 3366-OL.HK - news) 14 (Reuters) - Gasoline refining margins in northwest Europe edged higher on Friday amid thin trade, supported by recent declines in regional and global stocks and refinery maintenance.

* Gasoline stocks in the United States, Singapore and ARA are some 6 percent below levels seen at the same time last year, according to Reuters data.

* U.S. gasoline stocks fell by 1.9 million barrels last week, compared with analysts' expectations in a Reuters poll for a 1.5 million barrel-drop.

* ARA gasoline stocks rebounded slightly last week after hitting their lowest level this year, according to PJK International.

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* The arbitrage to the U.S. East Coast was limited. West African and Middle Eastern markets continued to attract European volumes, however.

* Low water levels along the Rhine River limited barge loading, pushing freight rates higher and crimping demand in inland markets, traders said.

* Algeria's Sonatrach issued a tender to buy 210,000 tonnes of gasoline in seven cargoes from October 28 to November 30, traders said on Friday.

GASOLINE

* No barges of benchmark Eurobob gasoline traded.

* Earlier in the day, around 12,000 tonnes traded at $508-$512 a tonne fob ARA, compared with $503-$505 a tonne the previous day. Gunvor, BP and Statoil (LSE: 0M2Z.L - news) sold to Glencore (Frankfurt: 8GC.F - news) , Shell (LSE: RDSB.L - news) and Finco.

* Gunvor sold to Total (LSE: 524773.L - news) two barges of premium unleaded gasoline at $519 and $520 a tonne fob ARA, down from $521 a tonne.

* The November swap stood at around $492.75 a tonne at the close, little changed.

* Gasoline barge refining margins rose to $10.645 a barrel, compared with $10.27 a barrel at the close on Thursday.

* Brent crude oil futures for December delivery were down 46 cents a barrel at $51.57 by 1538 GMT.

* U.S. November RBOB gasoline futures were down 0.53 percent at $1.4743 a gallon.

* The U.S. gasoline crack (RB-CL1=R) was trading at $11.93 a barrel, up from $11.73 a barrel on Thursday.

NAPHTHA (NAF-C-NWE)

* No trades were reported.

(Reporting by Ron Bousso)