Europe Gasoline/Naphtha-Gasoline supported by cracking outage

Mon Aug 8, 2011 4:47pm GMT
 

LONDON, Aug 8 (Reuters) - Gasoline prices held up relatively
well on Monday despite continued weakness in Brent crude prices,
with an outage at a refinery in Southern France supportive of
prices.	
    A catalytic cracking unit at Lyondellbasell's 
105,000 barrel per day refinery of Berre l'Etang in southern
France was offline after a confined combustion incident, the
company said on Monday. 	
    This helped push gasoline's premium to Brent significantly
higher after it gained slightly on Friday.	
 	
    GASOLINE 	
    * No barges of benchmark Eurobob traded in the window but
some 8,000 tonnes traded ahead of the window at prices ranging
from $980-$982 a tonne fob ARA.  	
    * This was in line with Friday's prices, but well off the
levels on Thursday when they were in the $1,020-$1,006 a tonne
fob ARA range. 	
    * BP, Shell Mabanaft, Chevron and Total sold. Morgan
Stanley, Trafigura, North Sea Group bought and Cargill and
Gunvor appeared on both sides of trades. 	
    * By 1531 GMT, Eurobob's crack to dated Brent BFO- was at
$11.34, stronger than the $9.75 a barrel, around the same time
on Friday.	
    * Five barges of premium unleaded gasoline traded at
$996-$999 a tonne fob ARA, up from $991 a tonne fob ARA in the
previous session. Gunvor, North Sea Group, Northville, AOT and
Trafigura all sold to Total.    	
    * ICE Brent crude futures LCOc1 were down $3.25 at $106.12
a barrel, sliding as worries about an economic slowdown
intensified following Standard & Poor's downgrade of the United
States' credit rating late on Friday. Crude reached an intraday
low of $105.43 a barrel. 	
    * U.S. RBOB gasoline futures RBc1 in New York were down
1.9 percent at $2.7528 a gallon.	
                            	
   NAPHTHA	
    * No deals were reported in the window. The prompt swap for
naphtha was at $904.01. 	
    	
	
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gasoline            <0#PU-ARA-S>      naphtha      <0#NAF-NWE-S>	
HS fuel oil         <0#HFO-ARA-S>     LS fuel oil  <0#LFO-ARA-S>	
	
 (Reporting by Simon Falush)

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