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Europe Gasoline/Naphtha-Cracks decline as exports slow

Reuters - UK Focus

LONDON, Sept 23 (Reuters) - Gasoline refining margins declined on Friday for a second consecutive session to $9 a barrel on slower exports to North America following the restart of a major pipeline there.

* Exports to the U.S. Atlantic Coast slowed down in recent days following the resumption of the Colonial Pipeline on Wednesday after a near week-long outage on its Line 1.

* Around 1.4 million tonnes of gasoline have been booked out of Europe on the transatlantic route in September, according to Reuters shipping data.

* Barge loading along the Rhine River was limited to around two thirds of capacity due to low water levels, with little rain forecast in the coming days, barge operators said.

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* Asia naphtha may be on the mend after months of a severe glut as the amount of arrivals from the West next month is expected to remain at low levels, traders said. Asia is set to receive around 650,000 tonnes of naphtha in October from the West, including Europe and the Mediterranean, estimates from four traders and shipping reports showed.

GASOLINE

* No barges of benchmark eurobob winter grade gasoline traded. Offers were seen at $476 a tonne fob ARA.

* Some 6,000 tonnes of winter gasoline traded earlier in the day at $463-$464 a tonne fob AR. Gunvor sold to Varo, Shell (LSE: RDSB.L - news) sold to Total (LSE: 524773.L - news) .

* Two barges of summer grade gasoline traded at $492 a tonne fob ARA. Gunvor sold to Rolympus.

* There were no trades, bids or offers of summer grade premium unleaded gasoline barges.

* The October swap stood at $469.50 a tonne at the close, unchanged.

* Gasoline barge refining margins fell to $9.01 from $10.23 a barrel on Thursday.

* Brent crude oil futures were down 22 cents at $47.43 a barrel by 1542 GMT.

* U.S. October RBOB gasoline futures were up 0.14 percent at 1.4038 a gallon.

* The U.S. gasoline crack (RB-CL1=R) was trading at $12.31 a barrel, up from $9.97 a barrel.

NAPHTHA (NAF-C-NWE)

* No trades were reported.

(Reporting By Ron Bousso)