Europe Gasoline-Rises but refining margins under pressure

LONDON, July 14 (Reuters) - European gasoline prices rose on
Tuesday but gains failed to match a bounce in crude futures,
keeping cracking margins under pressure.

Brokers said demand for oil products remains weak, even if
some traders have been looking to come back into the market
following the near 25 percent drop in wholesale gasoline prices
since mid-June.

Exports to the United States and West Africa -- two of the
main markets for European refiners -- have been limited.

PRICES

* Premium unleaded 10ppm gasoline barges traded between $572
to $576 a tonne fob ARA, down from $565 at the close on Monday.

* Trade was relatively brisk, with around 22,000 tonnes
changing hands throughout the day. Gunvor was the main seller in
the morning, trading a total of 6,000 tonnes. But the trading
house flipped positions in the evening trading window, buying
9,000 tonnes back from the market.

* The rise in Eurograde gasoline barge prices was limited
compared with crude oil and its crack to dated Brent BFO-
slipped to $8.00 a barrel from $8.55 on Monday.

* Brent crude futures were 58 cents higher at $60.27 a
barrel by 1607 GMT.

* U.S. RBOB gasoline futures RBc1 were trading 1.06
percent higher at $1.6567 a gallon.

* Traders said export opportunities to the United States --
the key gasoline market for European refiners -- were limited,
with the peak of the summer driving season now past. Possible
profits were seen at around $1.30 a tonne.

* Gasoline stocks in the United States are expected to have
risen by 1 million barrels last week, according to a Reuters
poll of analysts. [EIA/S]

* Exports to West Africa were also depressed due to the
large volumes booked in June.

* Gasoline swaps were around $571.00 a tonne for August,
sitting at a $4 discount to July. September was trading at
$562.50 a tonne.

* Naphtha prices were between $505 and $510 a tonne.

* India's August naphtha exports are set to rise to their
highest level this year, hitting at least 800,000 tonnes.
[ID:nSP373610]

(Reporting by David Sheppard; Editing by Jon Boyle)