Europe Gasoline/Naphtha-Cracks firm boosted by lower supplies

LONDON, Feb 24 (Reuters) - Gasoline refining margins in northwest Europe ended the week slightly higher, supported by falling Atlantic (Shanghai: 600558.SS - news) basin inventories.

* Gasoline inventories on both sides of the Atlantic have fallen in recent weeks, giving margins some reprieve, but the market remains oversupplied, traders said.

* Stocks in the Amsterdam-Rotterdam-Antwerp hub fell by 4.3 percent in the week to Feb. 23, while U.S. inventories were down last week by a sharp 2.6 million barrels.

* But the arbitrage from Europe to the United States remains shut for now because supplies remain at elevated levels.

* Naphtha margins also rose but were under pressure from lacklustre demand from gasoline blenders as well as from the European petrochemicals industry, traders said.

* Asian demand, for now, is giving European values a floor, traders said.

GASOLINE

* Gunvor sold to Castleton one barge of benchmark European gasoline in the afternoon window at $548 a tonne fob ARA and another barge to Vitol at $549 a tonne. This compares with a trade at $549 a tonne fob ARA on Thursday.

* Earlier in the day, 4,000 tonnes traded at around $546-$547 a tonne fob Amsterdam-Rotterdam, down from $551 a tonne during the previous session.

* No barges of premium unleaded gasoline traded. An offer emerged at $562 a tonne fob ARA, down from $567 a tonne the previous session.

* Brent crude futures were down 44 cents at $56.14 a barrel by 1651 GMT.

* Gasoline barge refining margins rose to $9.98 a barrel from $9.87 a barrel a day earlier.

* U.S. front month RBOB gasoline futures were 0.9 percent lower at $1.5154 by 1653 GMT.

NAPHTHA (NAF-C-NWE)

* No cargoes traded. (Reporting by Ahmad Ghaddar; Editing by Susan Fenton)