Europe Products-Distillates supported; HSFO at 13 month high

LONDON, Nov 5 (Reuters) - Spot differentials on physical
middle distillates in Europe firmed on Thursday on continuing
buying interests from Germany, brokers said.

Fuel oil prices rose to fresh 13 month highs, tracking gains
in crude oil prices in the previous day.

Some support came from extended maintenance shutdowns at
some European refineries. Petroplus said its Coryton and
Reichsett refineries would be shut until December.
[ID:nL5419216]

GASOLINE AND NAPHTHA <EURO/DIFF/MOGAS>

* Barges of 10ppm premium unleaded winter gasoline traded
between $707 and $711 a tonne fob ARA, little changed from
$709-$712 at Wednesday's close.

* Gasoline's crack to dated Brent BFO- was little changed
at $6.65 a barrel.

* Prices were stable after U.S. government data showed a
300,000 barrel drop versus forecasts for a 300,000 barrel build
on Wednesday. [EIA/S]

* But spot crack spreads are still below highs of close to
$10 a barrel at the end of last month.

* Crack spreads on gasoline have narrowed as gains on crude
oil have outpaced upside on gasoline this month. U.S. crude oil
prices have gained around 4 percent since the end of October
compared with less than 1 percent on European fob gasoline
barges.

* U.S. RBOB gasoline's RBc1 crack to dated Brent was
steady versus the previous close at $4.07 a barrel by 1354 GMT,
compared with $4.13.

* Gasoline swaps and intermonth spreads were little changed
on Thursday. The November/December backwardation rose 75 cents
to $2.75 while further out the contango sturcture held in place.

* Swaps showed that the arbitrage to the United States
turned negative for November. Traders could expect to make a
loss of 20 cents a tonne in November and a profit of $3 in
December.

MIDDLE DISTILLATES <EURO/DIFF/GO>

* Barges of gas oil with 0.1 percent sulphur were bid at
$5/$6 discounts a tonne fob ARA to November gas oil futures and
offered at $2 discounts, compared with Wednesday's deals around
$8 discounts.

* Barges of 10ppm diesel were bid at premiums of $11/$12 a
tonne fob ARA to the benchmark, compared with $8/$9 premium
deals at the close.

* Benchmark November ICE gas oil futures were little
changed, down by $3.50 or 0.55 percent, at $637.25 a tonne by
1313 GMT. LGOc1 NEWOILOIL

* Gas oil's crack to ICE Brent futures was at $7.87/$8.51 a
barrel, compared with $7.80 at the close. LGO-LCO1=R

* The prompt contango widened to $6/$11.40 a tonne from
$4.50 on Wednesday, the narrowest for a market close since late
August.

FUEL OIL <EURO/DIFF/FO>

* High sulphur fuel oil (HSFO) barges with 3.5 percent
sulphur $453 and $461 a tonne fob ARA, the highest price levels
in 13 months an up from $456-$458 at Wednesday's close.

* HSFO's crack to dated Brent narrowed to minus $5.45 a
barrel from minus $5.90.

(Reporting by Emma Farge and Ikuko Kurahone)