Europe Gasoline/Naphtha-Gasoline margins rise, but high stocks loom

LONDON, July 27 (Reuters) - Northwest European gasoline margins rose on Wednesday as crude futures slid by than 2 percent on the back of a sunrise build in U.S (Other OTC: UBGXF - news) . crude inventories. Still, a larger-than-expected build in gasoline inventories capped gains.

* U.S. gasoline stocks rose by 452,000 barrels last week even as refinery production slowed, compared with analysts' expectations in a Reuters poll for a 40,000-barrel increase, the EIA said on Wednesday.

* East Coast gasoline stocks rose to the highest level on record, beating the previous end-of-June record.

* The build will weigh on already limited exports from Europe to the U.S. east coast.

* Still, a pickup in exports to West Africa, primarily to Nigeria, in recent weeks has helped give margins a floor, traders said.

* Valero Energy Corp expects lower refinery utilization over the rest of the year as companies step up efforts to counter slumping refining margins caused by record supplies of gasoline and diesel products.

* The glut in refined products pushed down Valero's refining throughput margin to $8.93 per barrel in the second quarter, down from $13.71 per barrel a year earlier.

* Naphtha traders are struggling to sell cargoes on weak overseas demand, particularly from Asia, and slow demand in Europe from gasoline blenders and the petrochemical industry.

* The Sea Jewel naphtha tanker has been waiting offshore Gibraltar for nearly a week waiting to find a buyer.

GASOLINE

* No barges of benchmark eurobob gasoline traded during the afternoon session.

* In morning trade, 5,000 tonnes changed hands at $428-$429 a tonne fob ARA, up from $424 on Tuesday.

* No barges of premium unleaded gasoline traded. Offers emerged at $447 a tonne fob ARA.

* Gasoline barge refining margins rose to $8.03 a barrel from $7.41 a barrel.

* The August swap stood at around $426 a tonne at the close.

* Brent crude oil futures were down 95 cents at $42.92 a barrel by 1536 GMT.

* U.S. August RBOB gasoline futures were down 1.47 percent at $1.3254 a gallon.

* The U.S. gasoline crack (RB-CL1=R) was trading at $13.39 a barrel up from $13.30 a barrel on Tuesday.

NAPHTHA (NAF-C-NWE)

* No cargoes traded. Total (LSE: 524773.L - news) offered at around $355-$358 a tonne cif NWE, compared with trade the previous day at $363 a tonne. (Reporting by Ahmad Ghaddar, editing by Libby George)