Europe Gasoline-Gasoline falls as economy concerns resurface

LONDON, Feb 4 (Reuters) - European gasoline prices fell
sharply on Thursday as a sell-off across markets dragged the
entire oil complex lower.

Crude shed some five percent, and gasoline followed in its
wake, losing a similar amount to trade down to $673 from above
$705 in the previous session.

"The whole market got tanked after crude sold off," one
broker said. "A lot of worries about the health of the economy,
especially in Europe, have resurfaced. Gasoline wasn't immune."

Some support came from relatively heavy maintenance at
refineries in the first quarter, keeping cracking margins
propped up near $10 a barrel. [REF/E] [REF/OUT]

PRICES

* Barges of Eurobob gasoline fell to trade at $671-$675 a
tonne fob ARA from $706-$709 on Wednesday.

* The losses were slightly less than crude oil, pushing
cracking margins to $9.70 from $8.30 on Wednesday.

* Barges of 10ppm premium unleaded gasoline traded at
$675/$680.

* The arbitrage swap fell by about 60 cents to $3.10 for
February. March was wide open at $13.50 a tonne.

* ICE Brent crude LCOc1 shed $4.22 to $71.70 a barrel by
1750 GMT.

* New York RBOB gasoline RBc1 futures fell 4.7 percent to
$1.9222 a gallon by the same time.

SWAPS

* Swaps for the balance of February were at $671.50 a tonne,
with March trading just $1 higher at $672.50.

* The April swap was at $702.50 a tonne.

* The crack spread for February was at $8.15, while March
was at $7.85.

MAINTENANCE

* Exxon Mobil (XOM.N) has shut part of the UK's largest
refinery for maintenance work on a gasoline producing unit.
[ID:nLDE6121M9]

* Most other refineries in the country plan maintenance
works in the first and second quarters. [ID:nLDE6121H4]
(Reporting by David Sheppard)