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Europe Gasoline/Naphtha-Gasoline cracks gain on stronger exports

Reuters - UK Focus

LONDON, Aug 22 (Reuters) - Gasoline refining margins in northwest Europe rose above $9 a barrel on Monday, supported by stronger exports to North America following recent stock draws.

* Inventory draws in the Atlantic basin last week opened the arbitrage out of Europe to the U.S (Other OTC: UBGXF - news) . East Coast, with several winter-grade gasoline cargoes booked in recent days.

* A number of naphtha cargoes were also booked on the route to use for blending into winter spec gasoline, traders said.

* Around 1.4 million tonnes have been booked on the transatlantic route to load in August, according to Reuters shipping data.

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* BP's 413,500 barrel per day Whiting, Indiana refinery returned to normal production by Monday morning for the first time since late July, sources familiar with plant operations said.

* Outages at two refineries in the U.S. Gulf Coast - Motiva Enterprise's Convent refinery and Exxon's Baton Rouge refinery, have tightened gasoline production and led to diversion of some cargoes from the New York harbour to the south, traders said.

* Graphic: Global refined oil stocks (http://tmsnrt.rs/2br1O3U)

GASOLINE

* There were no Eurobob trades during the afternoon trading window. There were no bids or offers.

* Some 8,000 tonnes traded in the morning at $485-$486 a tonne fob ARA, down from $488 a tonne on Friday. Total (LSE: 524773.L - news) and Gunvor sold to Rolympus, Shell (LSE: RDSB.L - news) and BP.

* Shell sold a barge of premium unleaded gasoline to Total at $495 a tonne fob ARA, down from $501 a tonne.

* The September swap stood at around $486 a tonne at the close, down from $492 a tonne.

* Gasoline barge refining margins rose to $9.275 a barrel from $8.23 a barrel.

* Brent crude oil futures were down $1.50 at $49.38 a barrel by 1540 GMT.

* U.S. August RBOB gasoline futures were down 1.6 percent at 1.4887 a gallon.

* The U.S. gasoline crack (RB-CL1=R) was trading at $15.44 a barrel, up from $14.96 a barrel.

NAPHTHA (NAF-C-NWE)

* BP and Trafigura sold to Gunvor at $389 and $390 a tonne cif NWE, respectively, down from $396 a tonne on Friday.

* The naphtha crack was at around minus $5.1 a barrel, stronger than minus $5.7 a barrel on Friday.