Thursday, October 6, 2011

Europe Gasoline/Naphtha-Dip as crude falls

LONDON, (Reuters) - Gasoline prices fell on Tuesday as

deepening anxiety on prospects for the global economy hit assets

correlated with the demand outlook. Low levels in the river Rhine also contributed to weakness

for gasoline as it added to transit costs for fuels.

Brent crude LCOc1 fell below $100 per barrel on deepening

concern about the global economy, but recovered some losses on

comments from Federal Reserve Chairman Ben Bernanke and on

concern about violence in Saudi Arabia. Prices of products have been supported after Shell closed

its 500,000 barrel per day Singapore refinery after a fire.
GASOLINE * Some five barges traded in the window at $883 a tonne fob

ARA to $886 a tonne, in line with trades the previous session. * Gunvor sold and Morgan Stanley and Total bought. * Some 36 barges traded before the window at between $876

per tonne fob ARA and $890 per tonne. * Total was the biggest seller, while Statoil, Chevron,

Cargill, Gunvor, BP and Mabanaft also sold. * Glencore bought heavily while Trafigura and Morgan Stanley

bought and Cargill appeared on both sides of deals. * The price of premium unleaded gasoline barges also fell,

with BP selling to Trafigura at $914-$915 a tonne, down from

$933 a tonne on Monday. * Brent crude futures LCOc1 shed 80 cents to $100.91 a

barrel by 1553 GMT. They fell to a session low of $99.11 earlier

in the day. * Eurobob's crack to dated Brent BFO- was at $2.52 at , up

from $0.97 around the same time on Monday Friday, according to

Reuters calculations. * U.S. RBOB gasoline futures RBc1 in New York fell, were

down 0.2 percent to $2.5070 a gallon around the same time. * RBOB's crack to U.S. crude futures RB-CL1=R was at

$28.46 a barrel, up from around $26.30 at the same time on


NAPHTHA * A cargo was sold by Trafigura to Glencore at $854 a tonne

cif NWE. This was down from the $867-$871 a tonne cif NWE that

cargoes sold on Monday.

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