Europe Products-No hurricane support to gasoline

LONDON, Nov 9 (Reuters) - European product prices rose
moderately on Monday to track gains in crude oil prices, but
gasoline failed to get much support as Hurricane Ida has been
downgraded as it headed towards oil facilities on the U.S. Gulf
coast, traders said.

Brokers said the hurricane did not seem to be having an
effect so far and for November, the arbitrage was negative.

Spot differentials on gasoil and diesel were pushed up by
sellers. But the level may fall later in the day due to ample
supply and the forward curve of ICE gas oil futures steepened in
contango.

Fuel oil strengthened, supported by bunker demand in the
region and some shipment of straight run to the United States.

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GASOLINE AND NAPHTHA <EURO/DIFF/MOGAS>

* Barges of 10ppm premium unleaded winter gasoline traded at
$695 and $696 a tonne fob ARA, up from $680-$683 at Friday's
close.

* Dealing was thin, with about 5,000 tonnes changing hands.

* The crack to dated Brent BFO- strengthened by 50 cents
to $6.30 a barrel. Traders said the crack reflected the gains in
crude oil prices early on Monday and after the European market
close on Friday.

* U.S. RBOB gasoline RBc1 was trading about 1.6 percent up
at $1.9551 a gallon, with its cracks to U.S. crude futures
CLc1 at $3.56 a barrel.

* U.S. crude futures were trading 1.42 percent up at $78.52
a barrel.

* Hurricane Ida weakened further as it headed toward oil and
gas facilities in the Gulf of Mexico and was forecast to make
landfall overnight on the U.S. Gulf Coast, the U.S. National
Hurricane Center said on Monday. [ID:nN09245045]

* On the swaps market, the balance of November was $688.50 a
tonne, with backwardation widening by 25 cents at $2 to
December. The spread between December and November was a
contango of $.8.50 a tonne.

* Swaps showed the arbitrage gasoline shipment from Europe
to the United States would be a larger loss of $1.20 per tonne
than $1 on Friday.

* Last week, a rare gasoline cargo import came from the
United States arrived at the ARA independent storage. [ARA/]
Traders said this was unlikely to continue.

* Naphtha was thinly discussed. But support may come from an
expected pick up in Asian demand, traders said.[ID:nSP83546]

MIDDLE DISTILLATES <EURO/DIFF/GO>

* Barges of 10ppm diesel were offered at a premium of $17 a
tonne fob ARA for Nov. 13-16 and $14/$15 premiums for the second
half of November.

* Brokers said offers for very prompt lifting might mean
supplies have been very ample and they might pressure the market
later on Monday.

* "The numbers look strong so far but they tend to come down
at the market close," one broker said. "Also we have seen offers
only not much buying interest. And they are very prompt
lifting."

* Barges of gas oil with 0.1 percent sulphur were offered
around a discount of $2 a tonne fob ARA to November ICE gas oil
and parity to the benchmark.

* Benchmark November ICE gas oil futures rose $9.25 to
$616.50 a tonne by 1201 GMT. LGOc1 NEWOILOIL

* Gas oil's crack to ICE Brent futures was at $7.23/$7.81 a
barrel. On Friday, it closed at $7.64 a barrel, the weakest
since mid-September for a market close. LGO-LCO1=R

* The prompt contango widened to $9/$13 a tonne from $9.50
at the close.

* German residential heating oil stocks were 68 percent of
capacity on Nov. 1, unchanged from the level on Oct. 1, a trade
source said on Monday. [PROD/DE]

FUEL OIL <EURO/DIFF/FO>

* High sulphur fuel oil (HSFO) barges with 3.5 percent
sulphur were discussed at $447-$454 a tonne fob ARA, inching up
from $442-$445 on Friday.

* HSFO's crack to dated Brent narrowed to minus $4.75 a
barrel from minus $5.50 on Friday.

* Traders said bunker demand from Northwest Europe and the
Mediterranean remained relatively steady, offsetting the
pressure from the closed arbitrage to Asia.

* "High sulphur bunker is still strong with good demand and
nice premiums," one trader said.

* Spot premiums on bunker spec is seen around $3/$6 a tonne
to the average spot quote in Northwest Europe on fob basis and
in the Mediterranean on cif basis, traders said.

* At least one ship was expected to ship straight run high
sulphur fuel oil to the United States. Activities on Russian
M-100 was limited.
(Reporting by Ikuko Kurahone; editing by Karen Foster)