Europe Gasoline/Naphtha-Gasoline cracks fall as US stocks build

LONDON, Jan 15 (Reuters) - Gasoline barge cracks in

northwest Europe fell on Wednesday, with a larger-than-expected

increase in U.S. stocks of the motor fuel signalling weaker

demand for European imports, traders said.

"Gasoline is not liking this gasoline build," said one swaps

trader. "It is a big build again. We are building over

seasonality so that is what weighs on European gasoline."

Gasoline stocks rose 6.2 million barrels to 223 million

barrels, according to Energy Intelligence Administration (EIA)

data, more than a forecast increase of 2.5 million barrels. The

largest rise came on the East Coast, which is an export

destination for European gasoline and where inventories rose by

3.4 million barrels.

The builds add to pressure on European refiners, which cut

processing runs and extended maintenance in the second half of

2013 as margins sank and export markets shrank.

Total (NYSE: TOT - news) said on Wednesday it had lost 500 million euros ($684

million) last year at its strike-hit refining business in

France.

In new fixtures, Koch booked the Torm Mary for the U.S. East

Coast, shipping data showed. Repsol (TLO: REP-U.TI - news) booked the Opal Express, the

data showed.

A rare gasoline cargo also traded in the price assessment

window. Total sold to Greenergy at $946 a tonne cif Thames.

In the Mediterranean, Trafigura offered a cargo and BP (LSE: BP.L - news) bid

but no deals were reported, one Med trader said.

Algeria's state oil company Sonatrach has issued a tender to

buy 210,000 tonnes of premium unleaded gasoline in the first

quarter of 2014, traders said. The gasoline tender calls for two

cargoes of 30,000 tonnes in January, three in February and two

in March.

Petrochemical demand for naphtha was weak, but cracks were

supported by strong Asian margins due to tight supplies.

"There is good Asian demand," said one naphtha trader.

GASOLINE

* One barge of benchmark Eurobob gasoline traded in the

Platts window at $925 a tonne fob ARA (SES: D1R.SI - news) , up from $913 a tonne on

Tuesday. Total sold to Shell (LSE: RDSB.L - news) .

* Five barges traded ahead of the window at $916-$920 a

tonne fob ARA, roughly unchanged on Tuesday. Total and Gunvor

sold three barges to BP. Noble (NYSE: NE - news) sold 2,000 tonnes to Gunvor.

Shell sold 1,000 tonnes to Trafigura.

* At the close, the February swap was trading at $926 a

tonne, up from $918 a tonne on Tuesday.

* Total bought two barges of premium unleaded from Shell and

Vitol at $942 a tonne fob ARA, up from $933 a tonne on Tuesday.

* One cargo traded in the window. Total sold to 18,000

tonnes to Greenergy at $946 a tonne cif Thames.

* By 1640 GMT, Eurobob's crack to dated Brent was at

$1.666 a barrel, down from $1.972 a barrel on Tuesday.

* Brent crude oil futures were up $1.12 at $107.51 a

barrel at 1627.

* U.S. RBOB gasoline futures in New York (Frankfurt: HX6.F - news) were up 0.57

percent at $2.6374 a gallon, and the prompt crack was

at $16.39 a barrel.

NAPHTHA

* One cargo traded in the window on Wednesday. Gunvor sold

to Vitol at $913 a tonne cif NWE for delivery Jan. 27-31.

* The prompt crack was $4.71 a barrel, according to Reuters

calculations.