Europe Gasoline-Prices rebound by $40 to July high

LONDON, July 30 (Reuters) - European gasoline bounced by
almost $40 a tonne to hit its highest level since the end of
June, surpassing a 5 percent jump in crude prices.

The fall in gasoline inventories at the ARA area also
supported the prices.

The number of U.S. workers staying on jobless rolls fell to
the lowest in three months last week, government data showed,
setting off a huge rally across the oil complex on hopes the
recession may be bottoming out. [O/R]

U.S. gasoline futures soared by 11 cents to $1.96 a gallon,
increasing arbitrage opportunities for European traders looking
to ship excess cargoes west.

PRICES

* Premium unleaded 10ppm gasoline barges traded at $665-$669
a tonne fob ARA at the close, from around $630 at the close on
Wednesday.

* Volume was relatively brisk with around 14,000 tonnes
changing hands. Vitol was the main buyer.

* The crack to dated Brent BFO- rose to $10.50 from $9.00
a barrel.

* Brent crude futures were up almost 5 percent to around
$69.83 by 1705 GMT.

* U.S. RBOB gasoline futures RBc1 rose 5.77 percent to
$1.9620 a gallon.

FUNDAMENTALS

* Relatively active exports pushed down gasoline inventories
to 718,000 tonnes as of Thursday at the independent ARA tanks,
Dutch oil analyst Patrik Kulsen said.

* Rare cargoes were shipped to India and Lebanon from the ARA
tanks, with other outflows going to Brazil, Mexico, Nigeria, the
United Arab Emirates and to the barge market. Imports came from
France, Spain, Latvia, Sweden and the UK. [ARA/]

* On the bearish side, California gasoline demand dipped in
April by 0.8 percent. [ID:nN30360457]

NAPHTHA

* Naphtha was discussed around $580 a tonne cif NWE.

GASOLINE/NAPHTHA SWAPS

* Gasoline swaps strengthened relative to crude and crack
spreads for the fourth quarter were discussed at $3 a barrel
from $2.15 earlier on Thursday.

* The backwardation at the front end of the curve widened to
around $15 from $13 on Wednesday.

(Reporting by David Sheppard and Emma Farge, Editing by
Ikuko Kurahone and William Hardy)