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Share Price Information for BP (BP.)

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Share Price: 488.15
Bid: 487.80
Ask: 488.10
Change: 2.90 (0.60%)
Spread: 0.30 (0.062%)
Open: 485.25
High: 488.80
Low: 485.20
Prev. Close: 485.25
BP. Live PriceLast checked at -

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Europe Gasoline/Naphtha-Cracks edge higher on weaker crude futures

Wed, 31st Aug 2016 16:37

LONDON, Aug 31 (Reuters) - Gasoline refining margins edgedhigher following a fall in oil futures while a draw in U.S.gasoline stocks failed to boost cracks further as the remainingvolume in storage was still considered high.

* Even with upcoming refinery maintenance on the U.S. eastcoast, traders were still bearish owing to significantstockpiles in PADD 1 and the end of summer driving season.

* U.S. gasoline stocks fell 691,000 barrels,compared with analysts' expectations in a Reuters poll for a 1.2million-barrel drop, according to government data.

* French oil major Total and Italian renewableenergy group Erg have tapped banks to sell one ofItaly's biggest petrol station networks, known as TotalErg,sources familiar with the matter said.

GASOLINE

* There were no trades of benchmark Eurobob gasoline barge.In the previous session one barge traded at $474 a tonne fobARA.

* Some 16,000 tonnes traded throughout the day at $463-$472a tonne fob ARA, down from $474-$490 a tonne fob ARA on Tuesday.Total and Gunvor sold to Shell, BP, Rolympus and Varo.

* There were no trades of premium unleaded gasoline barges.The bid/offer range was $477-$478 a tonne fob ARA, down from adeal on Tuesday at $495 a tonne.

* The September swap stood at around $467.50 a tonne, downfrom $480 a tonne at the close.

* Gasoline barge refining margins rose to $9.21 a barrel, upfrom $8.93 a barrel on Tuesday.

* Brent crude oil futures were down $1.18 cents at$47.19 a barrel by 1555 GMT.

* U.S. August RBOB gasoline futures were down 1.76percent at 1.4228 a gallon.

* The U.S. gasoline crack was trading at $11.33 abarrel, up slightly from $11.10 a barrel.

NAPHTHA

* Glencore sold a cargo to BASF at $371 a tonne cifNorthwest Europe for Sept. 21-25 delivery.

* BP sold a cargo to Gunvor at $371.50 a tonne cif NorthwestEurope for Sept. 15-19 delivery.

(Reporting by Julia Payne, editing by Ahmad Ghaddar)

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