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Europe Gasoline/Naphtha-Cracks sink amid crude rally, weak demand

Reuters - UK Focus

LONDON, Nov 15 (Reuters) - Gasoline refining margins in northwest Europe declined sharply on Tuesday amid a strong rally in crude futures while demand in the region was relatively muted.

* Several cargoes of gasoline have been booked in recent days out of Europe to West Africa and a number of cargoes of reformate were also booked to go to China.

* Refinery maintenance in Europe and Russia remained relatively high in November at 1 million barrels per day, supporting product markets, traders said.

* Freight shipping on all of the river Rhine in Germany has returned to normal as rain has raised water levels allowing full vessel loading, traders said on Tuesday.

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* Refinery maintenance and outages in Latin America has also boosted demand for European products, with several cargoes booked on the route in recent days.

* Sinochem International Oil (Singapore), the trading arm of Chinese state-run oil and chemicals trader Sinochem, is offering gasoline for sale under long-term contracts for delivery in 2017, according to a tender document.

GASOLINE

* Gunvor sold to Rolympus one barge of benchmark Eurobob gasoline in the afternoon trading window at $450 a tonne fob ARA, up from $426 a tonne on Monday.

* Earlier in the day, 8,000 tonnes of benchmark gasoline traded at between $430-$433 a tonne fob Amsterdam-Rotterdam, down from $427-$436 a tonne a day earlier.

* Gunvor sold to Total (LSE: 524773.L - news) a barge of premium unleaded gasoline at $450 a tonne fob ARA, up from $439 a tonne.

* The December swap stood at around $444 a tonne at the close, up from $426 a tonne.

* Gasoline barge refining margins declined to $7.545 a barrel from $8.38 a barrel.

* U.S. December RBOB gasoline futures were trading 3.11 percent lower at $1.3175 a gallon at 1643 GMT.

* The U.S. gasoline crack (RBC1-CLC1) traded at $10.07 a barrel, down from $11.19 a barrel on Monday.

NAPHTHA (NAF-C-NWE)

* No trades were reported. Offers were seen at $409 a tonne cif NWE.

(Reporting by Ron Bousso)