January 17, 2011 / 7:00 PM / in 7 years

Europe Gasoline-Rallies further to 28-mth highs

 LONDON, Jan 17 (Reuters) - Gasoline barge prices in
northwest Europe climbed further on Monday to fresh 28-month
highs on unseasonal refinery maintenance in France.
 Traders said maintenance at France Exxon's Fos-sur-Mer
refinery, expected to continue for five weeks after starting on
Friday, had contributed to the upturn. The plant normally
produces 115,000 barrels a day [REF/E].
 The Fos-sur-Mer outage was "definitely" helping, one trader
said, while maintenance to come in the Mediterranean in February
had also supported prices, he added.
 Barge trade into Germany, France and Switzerland along the
river Rhine remained closed for a fifth day by a capsized tanker
loaded with sulphuric acid and German navigation authorities
said the route could be blocked until the weekend
[ID:nLDE70G1EY].
  
 GASOLINE <EURO/DIFF/MOGAS>
 * Barges of benchmark Eurobob traded at $864-$868 a tonne
fob ARA on Monday, up from $861-$865 at the end of last week.
Prices topped Friday's 28-month high of $864 a tonne fob ARA,
rising to $866 during the window in the afternoon. 
 * Some 3,000 tonnes traded on Monday, with Shell picking up
two cargoes from Gunvor.
 * Premium unleaded gasoline traded at $874-$878 a tonne fob
ARA in thin trade on Monday, up from $868-$872 a tonne fob ARA
on Friday.
 * Some 3,000 tonnes of premium unleaded gasoline were traded
on Monday. Trafigura was a busy seller, while Glencore and Totsa
were on the buy side.
  * By 1742 GMT, Eurobob's crack to dated Brent BFO- had
widened to around $5.364, out from close to $4.037 a barrel on
Friday.
 * ICE Brent crude futures LCOc1 were down by 86 cents
around the same time, at $97.52 a barrel, as a stronger dollar
weighed on the market.
 * U.S. RBOB gasoline futures RBc1 in New York were little
changed at $2.4806 a gallon. The crack RB-CL1=R rose to $13.14
a barrel, up from $12.54 a barrel on Friday.
 
 NAPHTHA
 * One cargo changed hands during Europe's physical naphtha
window, with Gunvor selling a cargo to Statoil at $865 a tonne
cif NWE. 
 * Prices fell by two dollars after recovering on Friday,
when one cargo changed hands during the day at $867 a tonne cif
NWE.
 * Traders said lower-than-expected supplies of naphtha from
the Russian port of Tuapse was a supportive factor.
 * European naphtha spot crack spreads neared zero on Monday,
rising to around minus $0.48, up from around $1.39, on Friday.
 (Reporting by Jessica Donati; editing by Anthony Barker)










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