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Europe Gasoline/Naphtha-Gasoline cracks dip amid overhang concerns

Reuters - UK Focus

LONDON, Aug 8 (Reuters) - Gasoline refining margins in northwest Europe declined on Monday to below $10 a barrel amid concerns over a stock overhang in the Atlantic (Shanghai: 600558.SS - news) basin amid a strong crude oil price rally.

* Gasoline tanker bookings to West Africa and the United States East Coast have picked up in recent days, supporting the market.

* Gasoline production at BP's 413,500 barrel per day (bpd) Whiting, Indiana refinery increased on Monday as the company was working to return the reformer to full production, sources familiar with plant operations said.

* Lower gasoline yield from refineries in the Atlantic basin and several outages in U.S (Other OTC: UBGXF - news) . plants in recent days including Marathon's Robinson (LSE: RBN.L - news) , Illinois have supported prices in recent days.

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* Demand from Mexico has also supported after refinery outages in the country led to a sharp rise in imports to around 600,000 tonnes in August, according to traders.

GASOLINE

* Gunvor sold to BP one barge of benchmark ebob gasoline in the afternoon window at $444 a tonne fob ARA.

* Some 8,000 tonnes traded throughout the day at $442.50 a tonne fob Amsterdam-Rotterdam, compared with $435-$441 a tonne on Friday. Gunvor sold to Shell (LSE: RDSB.L - news) , Varo, BP and Finco.

* Three barges of premium unleaded gasoline traded at $453 a tonne fob ARA, up from $448 a tonne. Rolympus and Litasco sold to Total (LSE: 524773.L - news) .

* Gasoline barge refining margins dipped to $9.61 a barrel, from $10.74.

* The September swap stood at around $446 a tonne at the close, up from $436.50 a tonne.

* Brent crude oil futures rose by $1.06 to $45.33 a barrel by 1554 GMT.

* U.S. August RBOB gasoline futures were up 0.06 percent at 1.3771 a gallon.

* The U.S. gasoline crack (RB-CL1=R) was trading at $14.83 a barrel, down from $16.04 a tonne.

NAPHTHA (NAF-C-NWE)

* No naphtha cargoes traded. (Reporting by Ron Bousso)