July 11, 2018 / 3:56 PM / 9 months ago

Europe Gasoline/Naphtha-Cracks jump, West Africa demand picks up

LONDON, July 11 (Reuters) - Benchmark northwest European gasoline refining margins rose on Wednesday, buoyed by sharp declines in crude prices and stronger export demand.

* At least six tankers were booked provisionally in recent days to load gasoline in northwest Europe or the Mediterranean to go to West Africa, shipping reports showed.

* U.S gasoline stocks fell by 694,000 barrels last week, compared with expectations in a Reuters poll for a 750,000 barrels drop, data from the Energy Information Administration showed on Wednesday.

* Overall, buying from the key U.S. East Coast market remained significantly lower for this time of year than in recent years, according to traders.

* A surge in U.S. refining output in recent months has led to a sharp rise in inventories in the country, dampening demand for imports, traders said.

* The 400,000 barrels-per-day Jubail Satorp refinery, a joint venture between Saudi Aramco and French company Total, has shipped its RBOB gasoline to the United States for the first time.


* Total sold a barge of Eurobob gasoline to Shell in the afternoon window at $720 a tonne fob ARA, down from trades at $733-$734 a tonne the previous day.

* Elsewhere, 12,000 tonnes of Eurobob gasoline traded in a range of $715-$721 a tonne fob Amsterdam-Rotterdam, down from $728.50-$729 a tonne the previous session. Total and Varo sold to Shell, Mabanaft, Finco and BP.

* There were no deals on barges of premium unleaded gasoline.

* No cargoes traded.

* The August swap stood at $717.25 a tonne at the close, down from $729 a tonne.

* The benchmark EBOB gasoline refining margin rose to $10.073 a barrel, from $9.034 a barrel.

* Brent crude futures were down $2.37 cents at $76.49 a barrel at 1535 GMT.

* U.S. front-month RBOB gasoline futures were down 1.74 percent at $2.1227 a gallon.

* The U.S. RBOB refining margin RBc1-CLc1 was up 0.72 percent at $16.74 a barrel.


* There were no trades. (Reporting by Ahmad Ghaddar; Editing by Mark Potter)

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