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Europe Gasoline/Naphtha-Cracks sink ahead of Colonial restart

LONDON, Sept 20 (Reuters) - Benchmark gasoline refining margins in northwest Europe dropped on Tuesday by more than $2 to $11 a barrel as a major pipeline in the U.S. East Coast was set to resume operations.

* U.S. gasoline futures plummeted after Colonial Pipeline said the restart for Line 01 is now projected for Wednesday. It will take several days for the fuel delivery supply chain to return to normal, it said.

* Maintenance in Europe and lower refinery gasoline yields in recent weeks have supported refining margins, which are at their highest since February.

* Large volumes continued to be exported to Canada, Latin America and West Africa in recent days though the flow to the U.S East Coast has so far remained relatively subdued, traders said.

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* Strong demand from Latin America, tighter export volumes from the U.S. Gulf Coast and refinery issues on the West Coast further supported the market.

* Gasoline shipments via sea into the east coast of the United States rose by about 58 percent in the past week, data from Panjiva shows, as Colonial Pipeline attempts to restart its main gasoline line completely after a leak.

* Saudi Arabia's Aramco said on Tuesday it had put out a fire at its Ras Tanura terminal where eight individuals were injured including two Aramco employees. In a statement posted on the company's website, the energy company said the fire had not affected operations.

GASOLINE

* No barges of benchmark ebob gasoline traded. Offers were seen at $473 a tonne fob ARA.

* Some 10,000 tonnes traded earlier in the day at $471-$474 a tonne fob Amsterdam-Rotterdam, compared with $489 a tonne on Monday. BP, Gunvor and Shell (LSE: RDSB.L - news) sold to Rolympus, Shell and Trafigura.

* Rolympus sold to Total (LSE: 524773.L - news) seven barges of premium unleaded gasoline at $481 a tonne fob ARA, down from $504 a tonne the previous session.

* The October swap stood at around $451.50 a tonne at the close, down from $468 a tonne.

* Gasoline barge refining margins declined to $11.05 from $13.23 a barrel on Monday.

* Brent crude oil futures were up 15 cents at $46.10 a barrel by 1530 GMT.

* U.S. October RBOB gasoline futures were down 3.13 percent at 1.3773 a gallon.

* The U.S. gasoline crack (RB-CL1=R) was trading at $13.86 a barrel, down from $17.04 a barrel.

NAPHTHA (NAF-C-NWE)

* Glencore (Frankfurt: 8GC.F - news) sold a cargo to Gunvor at $390 a tonne cif NWE, down from $395.50 tonne.

(Reporting by Ron Bousso)