BUZZ-U.S. gasoline margins surge as storm threatens Gulf Coast - traders
NEW YORK, Aug 24 (Reuters) - U.S. gasoline margins surged by more than 5 percent early Thursday morning as a potenial hurricane threatens the Gulf Coast, traders said.
* The U.S. gasoline crack spread (RBc1-CLc1), a key measure of refining margins, jumped nearly 7 percent on Thursday to $16.84 a barrel before modestly pairing gains.
* Royal Dutch Shell (LSE: 0LN9.L - news) , Anadarko Petroleum (Other OTC: ANDKU - news) and Exxon Mobil (Swiss: XOM-USD.SW - news) are curbing some oil and gas output in the Gulf of Mexico ahead of a storm expected to hit the Texas coast later this week.
* The U.S. National Hurricane Center (NHC) issued a hurricane watch Wednesday for much of the Texas coast, calling for slow-moving Tropical Depression Harvey to intensify as it nears landfall. (Reporting By Jarrett Renshaw)