Europe Gasoline/Naphtha-Gasoline slips as exports remain limited
LONDON, Sept 9 (Reuters) - Gasoline refining margins in northwest Europe slightly declined on Friday after a large draw in U.S (Other OTC: UBGXF - news) . inventories last week failed to spark a wave of new exports.
* A very large drop in U.S. gasoline stocks last week improved the arbitrage economics from Europe but few new fixtures appeared over the past 24 hours, according to Reuters data.
* Traders expected imports to the New York Harbour to increase next week as more vessels where heading there.
* Just over 500,000 tonnes of gasoline has been provisionally booked to go to the U.S. from Europe for Sept. Loading, according to Reuters shipping data.
* Several cargoes of mixed aromatics were booked out of Europe to China in recent days but the strengthening of cracks will likely limit the arbitrage, traders said.
* U.S. gasoline stocks fell by 4.2 million barrels, last week, while ARA stocks rose marginally to 958,000 tonnes in the week to Thursday.
* Egyptian General Petroleum Corp is seeking two cargoes of 30,000 to 33,000 tonnes each of 95-octane gasoline for delivery in October.
* European refiners lowered crude oil processing in August from a year earlier, data from industry monitor Euroilstock showed on Friday, as profit margins fell sharply due to high stocks.
GASOLINE
* No barges of benchmark Eurobob gasoline during the afternoon trading session. Bids and offers were seen at $488-$503 a tonne fob ARA.
* Some 6,000 tonnes traded earlier in the day at 496 a tonne fob Amsterdam-Rotterdam, compared with $491-$502 a tonne during the previous session.
* Rolympus sold to Total (LSE: 524773.L - news) one barge of premium unleaded gasoline at $508 a tonne fob ARA, down from $528 a tonne on Wednesday.
* The October swap stood at around $467 a tonne at the close, down from $478 a tonne.
* Gasoline barge refining margins slightly declined to $9.7a a barrel from $9.86 a barrel on Thursday.
* Brent crude oil futures were down $1.16 at $48.83 a barrel by 1530 GMT.
* U.S. August RBOB gasoline futures were down 2.97 percent at 1.3745 a gallon.
* The U.S. gasoline crack (RB-CL1=R) was trading at $11.15 a barrel, down from $12.07 a barrel.
NAPHTHA (NAF-C-NWE)
* No cargoes traded.
(Reporting by Ron Bousso)