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Europe Gasoline/Naphtha-Cracks firm, but oversupply weighs

Reuters - UK Focus

LONDON, Feb 20 (Reuters) - Gasoline refining margins in northwest Europe regained some ground on Monday due to refinery outages on both sides of the Atlantic (Shanghai: 600558.SS - news) , although an oversupply in the Atlantic basin continued to weigh on values.

* Planned and unplanned refinery turnarounds in Europe gave margins a floor.

* A gasoline-making unit at Total (LSE: 524773.L - news) 's 350,000 barrels per day Antwerp refinery has been shutdown, industry monitor Genscape said on Sunday.

* An explosion on Saturday (Shenzhen: 002291.SZ - news) at PBF Energy (NYSE: PBF - news) 's 151,300 bpd Torrance, California, refinery was on the vacuum unit, a Torrance Fire Department official said. The rest of the refinery continued to operate, a PBF (Taiwan OTC: 1760.TWO - news) spokesman said.

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* Exxon Mobil Corp said on Sunday operations at its 502,500 bpd refinery in Baton Rouge, Louisiana, had returned to normal after a power supply upset on Friday.

* Margins have been under pressure from rising inventories, especially after data from the Energy Information Administration showed U.S. gasoline stocks hit an all-time high earlier this month.

* Trading activity was thin due to a public holiday in the United States and a major industry gathering in London.

GASOLINE

* No barges of benchmark European gasoline traded in the afternoon window.

* Earlier in the day, 4,000 tonnes traded at $552.50-$553 a tonne fob Amsterdam-Rotterdam, up from $545 a tonne on Friday. Shell (LSE: RDSB.L - news) and Gunvor sold to Varo.

* No barges of premium unleaded gasoline traded. One was offered at $567 a tonne fob ARA, up from $562 a tonne on Friday.

* The March swap traded at around $556.50 a tonne at the close, up from $549 a tonne.

* Gasoline barge refining margins rose to $10.67 a barrel from $9.98 a barrel.

* U.S. front month RBOB gasoline futures were 0.75 percent lower at $1.5052 by 1640 GMT.

* The U.S. gasoline crack (RBc1-CLc1) stood at $9.60 a barrel, down from $9.83 a barrel on Friday.

NAPHTHA (NAF-C-NWE)

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