Europe Gasoline/Naphtha-Cracks edge higher as U.S. stocks fall
LONDON, March 11 (Reuters) - Northwest European gasoline refining margins edged higher to just below $4 a barrel on Wednesday, supported by a larger-than-expected fall in U.S. inventories. * U.S. gasoline stocks fell by 5 million barrels last week, double analysts' forecasts in a Reuters poll. * Brent crude contracts for nearby delivery dropped on Wednesday to their biggest discount against the six-month forward contract <LCOc1-LCOc7> in more than four years, Refinitiv data showed. * An extended shutdown of the gasoline-producing fluidic catalytic cracker (FCC) at Lyondell Basell Industries 263,776 barrel-per-day (bpd) Houston refinery will impact refining segment returns for the first quarter of this year, Lyondell CEO Bob Patel said. * Adnoc's Ruwais refineries have been shut down during the month of March for scheduled maintenance, two sources told Reuters. Routine maintenance of the Ruwais West refinery was supposed to happen in early 2020, according to a statement by Adnoc in late December. Gasoline (in tonnes) Trades Bids Offers Prev. Sellers Buyers (vol.) Trades Ebob $317 $321 Barges MOC Platts E5 (fob ARA) <EUROBO B-ARA> Ebob Barges E10 Platts( fob ARA) Ebob $330 Total Gunvor Barges $322-$33 - Argus 2 (4KT) $344(8KT) E5(fob AR) Ebob $343 - Total Varo, Barges $357 Van E10 $321-$33 (6KT) Raak Argus 4.50 (fob (14KT) AR) April $365 swap $358 fob ARA Premium $340 (8 Hartree Shell Unleade barges) , d (fob Petroin ARA) eos <PU-10P P-ARA> Cargoes (fob MED) Cargoes (cif NWE) Naphtha (cif NWE) <NAF-C- NWE> Ebob crack (per barrel) $3.856 prev. $3.645 Brent futures Rbob Rbob crack <RBc1-CLc1> (Reporting by Ahmad Ghaddar; Editing by Alexander Smith)