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Europe Gasoline/Naphtha-Gasoline cracks slip on U.S. stock build

Reuters - UK Focus

LONDON, Oct (HKSE: 3366-OL.HK - news) 19 (Reuters) - Gasoline refining margins in northwest Europe slipped on Wednesday as oil prices firmed substantially and gasoline stocks grew in the United States.

* While U.S. crude oil and distillates stocks fell, gasoline stocks rose by 2.5 million barrels, compared with expectations in a Reuters poll for a 1.3 million-barrel drop.

* U.S. gasoline margins fell more than 5 percent on Wednesday after data from the U.S. Energy Department showed a large unexpected increase in gasoline stocks and decline in crude inventories last week.

* Still, traders said there were strong exports of gasoline and blending components to China. The country's state planner on Wednesday said it will raise retail prices of gasoline by 355 yuan ($52.70) per tonne and of diesel fuel by 340 yuan per tonne from Thursday.

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* While naphtha demand was expected to drop due to a deadly fire at BASF's largest petrochemical plant in Germany, traders said prices had not yet fallen.

* The plant consumes at least 150,000 tonnes a month of naphtha when fully operational, traders said.

GASOLINE

* Vitol sold to Rolympus one barge of benchmark Eurobob gasoline at $501 a tonne fob ARA, up from $498 a tonne on Tuesday.

* Elsewhere during the day, 8,000 tonnes traded at $505-508 a tonne fob ARA, the same range as Tuesday's trades.

* Interchem and Statoil (LSE: 0M2Z.L - news) sold to Gunvor and Rolympus.

* Gunvor sold to Total (LSE: 524773.L - news) a barge of premium unleaded gasoline at $525 a tonne fob ARA, up from $506 a tonne on Tuesday.

* The November swap stood at $501.50 a tonne, up from $495 a tonne on Tuesday.

* Gasoline barge refining margins fell to $8.80 a barrel, down from $9.51 a barrel on Tuesday.

* Brent crude oil futures for December delivery were up $1.28 at $52.96 by 1625 GMT.

* U.S. November RBOB gasoline futures were trading at $1.5093 a gallon, up 0.0036 percent.

* The U.S. gasoline crack (RB-CL1=R) fell more than 5 percent to a session low of $11.49 per barrel after the EIA data.

NAPHTHA (NAF-C-NWE)

* BASF sold to Shell (LSE: RDSB.L - news) one cargo at $452 a tonne cif NWE, up from $437 a tonne on Tuesday.

(Reporting By Libby George)