LONDON, June 22 (Reuters) - European gasoline prices plummeted by more than 8 percent on Monday after a large sell-off in U.S. RBOB gasoline futures lowered expectations for exports to the United States.
European barges have fallen by almost $60 in one day, trading as low as $624 a tonne from above $680 in late Friday trade.
U.S. RBOB futures have collapsed from a year high just above $2.10 a gallon last Tuesday to around $1.84 a gallon on Monday on concerns demand will be curtailed in the United States over the summer by rising unemployment and high prices at the pumps.
"It's all about RBOB gasoline today," one broker said. "The arbitrage is still open as European prices have dropped by a similar amount, but there are real concerns about demand."
* Premium unleaded 10ppm gasoline barges traded at $624 to $630 a tonne fob ARA, down from Friday's close at $682.
* Trade volume totalled around 16,000 tonnes on Monday, about half the volume seen on Friday.
* The crack to dated Brent BFO- fell to $8.47 a barrel from around $10 on Friday.
* Brent crude oil futures LCOc1 fell by 4 percent on Monday to trade at $66.60 at 1658 GMT.
* In the United States, New York RBOB gasoline futures RBc1 fell by more than 4 percent to $1.8400 a gallon, having closed at $1.9244 a gallon on Friday.
* Gasoline swaps fell to $626 a tonne for the balance of June from above $680. The spread between June and July narrowed sharply to $1.00 a tonne, with the backwardation to August also narrowing to $6.75 a tonne from around $10.00 on Friday.
* Cracks were $6.50 a barrel for the third quarter and $1.10 for the fourth quarter. The fourth quarter crack stood above $2 a barrel on Friday.
* Naphtha prices fell, tracking losses in gasoline and crude. Prices were to around $546 from $585 a tonne cif NWE.
* The spread between naphtha and gasoline narrowed at one point to around $80 a tonne, before moving back out to sit around $84 a tonne.
* Brokers said they did not see the spread narrowing beyond $75 a tonne during the summer driving season.
* Naphtha crack swaps were minus $6.10 a barrel for the third quarter and minus $7.50 for the fourth quarter.
* Swaps for July were at $542 a tonne, with the market in a slight backwardation to August at $541.50 a tonne.
* European gasoline output fell by almost 3 percent in May from April, down to 3.071 million barrels per day, industry monitors Euroilstock reported on Monday.
(Reporting by David Sheppard and Emma Farge; editing by William Hardy)