July 4, 2018 / 3:51 PM / 2 months ago

Europe Gasoline/Naphtha-Cracks slip, exports to U.S. edge higher

LONDON, July 4 (Reuters) - Benchmark northwest European gasoline refining margins slightly declined on Wednesday amid thin trade due to public holiday in the United States.

* The arbitrage from Europe to the U.S. East Coast remained wide open. Exports from the region rose in recent days and are expected to reach around 1.2 million tonnes in July, according to traders.

* Over 330,000 tonnes were booked onboard nine vessels so far this week, according to shipping data and traders.

* Several cargoes were also booked to the Middle East.

* High crude oil prices and ample gasoline supplies are depressing Asia’s refining margins for petrol, now languishing around two-year lows with few signs of improvements.

GASOLINE

* No barges of Eurobob gasoline traded in the afternoon window. There were no bids or offers.

* Elsewhere, 9,000 tonnes of Eurobob gasoline traded in a range of $717-$717.50 a tonne fob Amsterdam-Rotterdam, compared with $715.50-$717 a tonne the previous day. Total sold to Shell and Mabanaft.

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

* The August swap stood at $717 a tonne at the close, up from $706 a tonne on Tuesday.

* The benchmark EBOB gasoline refining margin dipped to $8.266 a barrel from $8.456 a barrel.

* Brent crude futures were up 28 cents at $78.04 a barrel by 1542 GMT.

* U.S. front-month RBOB gasoline futures were up 0.42 percent at $2.1265 a gallon.

* The U.S. RBOB refining margin RBc1-CLc1 was up 3.24 percent at $15.28 a barrel.

NAPHTHA NAF-C-NWE

* There were no trades. (Reporting by Ron Bousso Editing by Ahmad Ghaddar)

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