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Europe Gasoline/Naphtha-Gasoline cracks slide as crude jumps
LONDON, Aug 11 (Reuters) - Gasoline refining margins in northwest Europe extended their losses on Thursday, sliding below $8 a barrel for the first time since late July, as a supply overhang continued to weigh and as crude prices jumped.
* Europe gasoline exports have been ticking along, but not at a rate high enough to soak up excess supplies, traders said.
* Oil prices rose over 3 percent after comments from the Saudi oil minister about possible action to stabilize prices triggered a round of buying and the International Energy Agency forecast crude markets would tighten in the second half of 2016.
* Gasoline stocks independently held in the ARA storage hub fell for a third straight week, dropping more than 5 percent in the week to Thursday as overseas demand for the motor fuel grew, Dutch consultancy PJK International said.
* Several gasoline tankers left the region in recent days for the United States, Mexico, Brazil, and to West and North Africa, PJK's Patrick Kulsen said.
* U.S (Other OTC: UBGXF - news) . gasoline stocks were also down, falling 2.8 million barrels last week.
* But gasoline imports to the U.S. East Coast (PADD1) rose sharply last week to 794,000 barrels per day, up nearly 200,000 bpd from the previous week.
GASOLINE
* There were no Eurobob trades during the afternoon trading window, but bids came in at $437 a tonne fob ARA, compared with a trade the previous day at $428 a tonne.
* Some 14,000 tonnes traded throughout the day at $422-$439 a tonne fob Amsterdam-Rotterdam, compared with $437-$443 a tonne. Gunvor and Total (LSE: 524773.L - news) sold to Shell (LSE: RDSB.L - news) and Rolympus.
* Four barges of premium unleaded gasoline traded at $458-$460 a tonne fob ARA, up from $442 a tonne. Rolympus and Vitol sold to Total.
* Gasoline barge refining margins fell to $7.45 a barrel, from $9.30 a barrel.
* The September swap stood at around $445.50 a tonne at the close, up from $433 a tonne.
* Brent crude oil futures were up $1.55 to $45.60 a barrel by 1542 GMT.
* U.S. August RBOB gasoline futures were up 3.27 percent at 1.3440 a gallon.
* The U.S. gasoline crack (RB-CL1=R) was trading at $13.25 a barrel, up slightly from $13.10 a barrel.
NAPHTHA (NAF-C-NWE)
* BP sold to Koch at $355 a tonne cif NWE. (Reporting by Ahmad Ghaddar)
