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Europe Gasoline/Naphtha-Cracks slip as ARA gasoline stocks rebound

Reuters - UK Focus

LONDON, Nov 18 (Reuters) - Gasoline refining margins in northwest Europe slipped on Friday after ARA stocks of the motor fuel jumped while outflows to the Middle East, Africa and the U.S. East Coast rose.

* Tanker fixtures show some stronger gasoline activity to the Middle East, South and West Africa and the U.S. East Coast.

* Upcoming maintenance in major Middle East refineries has strengthened demand for oil product imports in the region in November and December, traders said.

* A union representing workers at Shell (LSE: RDSB.L - news) 's 404,000 bpd Pernis refinery said they will take industrial action on Nov. 22 and Nov 23 after failing to reach a deal over wage demands. FNV says it expects no immediate capacity disruption but did not rule out some later in the week.

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* Gasoline stocks at the Amsterdam-Rotterdam-Antwerp (ARA) hub jumped 30 percent in the week to Thursday, bouncing back from a drop last week as exports to the United States, following the Colonial pipeline explosion, slowed.

* Refinery maintenance in Europe and Russia remained relatively high in November at 1 million barrels per day, supporting product markets, traders said.

* Brent was headed for its first weekly gain in five on hopes OPEC would agree to production after ministers and sources said the cartel was moving closer to finalizing its first deal since 2008.

GASOLINE

* There were no trades of benchmark Eurobob gasoline by barge in the afternoon window, the same as on Thursday. On Wednesday, there was a bid at $441 a tonne fob ARA but no offers.

* Earlier in the day, two 2,000 tonne barges of benchmark gasoline traded at $441 a tonne fob ARA compared to trades of between $442 and $445 a tonne on Thursday. Gunvor sold to Vitol and Varo.

* Shell sold to Total (LSE: 524773.L - news) barges of premium unleaded gasoline at $454 and $453 a tonne fob ARA compared to $458 a tonne on Thursday.

* The December swap stood at around $446 a tonne at the close, slightly lower than $447 the previous day.

* Gasoline barge refining margins slipped to $8.009 a barrel from $8.546 a barrel.

* U.S. December RBOB gasoline futures were trading 0.9 percent lower at $1.3305 a gallon at 1710 GMT.

* The U.S. gasoline crack (RBC1-CLC1) traded at $10.85 a barrel, down 14 cents.

NAPHTHA (NAF-C-NWE)

* No trades heard.

(Reporting by Sabina Zawadzki)