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Share Price Information for BP (BP.)

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Share Price: 491.30
Bid: 490.50
Ask: 490.60
Change: 2.00 (0.41%)
Spread: 0.10 (0.02%)
Open: 491.00
High: 493.10
Low: 490.30
Prev. Close: 489.30
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Europe Gasoline/Naphtha-Cracks weaken as demand season nears end

Tue, 30th Aug 2016 16:04

LONDON, Aug 30 (Reuters) - Gasoline refining margins innorthwest Europe dropped to near $8.5 a barrel on Tuesday amid asignificant slowdown in exports as peak summer demand seasondraws to an end.

* Refinery outages in the U.S. Gulf Coast due to unplannedmaintenance and bad weather supported the market as exports fromthe key hub were expected to slow, traders said.

* Around 1.2 million tonnes of gasoline have been bookedfrom Europe to North America to load in August, according toReuters data and traders.

* Phillips 66 has cut production by roughly five percent atits 238,000 barrel-per-day refinery in Linden, New Jersey, amidweak refining margins, according to a source familiar with theplant's operations.

* Russia's state-owned oil major Rosneft issued a tender tosell up to 200,000 tonnes of naphtha from its refineries fordelivery in November-December 2016, the company reported on itswebsite on Tuesday.

* A rapid rebound in Asian refining margins ahead of theautumn maintenance season could prove short-lived as it mayprompt refiners to lock in quick profits by increasing their runrates.

GASOLINE

* Gunvor sold to Vitol one barge of benchmark eurobobgasoline in the afternoon trading window at $474 a tonne fob ARA.

* Some 30,000 tonnes traded throughout the day at $474-$490a tonne fob Amsterdam-Rotterdam, compared with $487-$497 a tonneon Friday. Total and Gunvor sold to BP, Shell, Rolympus andVaro.

* Shell sold to Total one barge of premium unleaded gasolineat $495 a tonne fob ARA, down from $505 a tonne.

* The September swap stood at around $480 a tonne at theclose, down from $498 a tonne.

* Gasoline barge refining margins rose to $8.5 a barrel from$9.34 a barrel on Friday.

* Brent crude oil futures were up 38 cents at $50.05a barrel by 1533 GMT.

* U.S. August RBOB gasoline futures were down 1.5percent at 1.4449 a gallon.

* The U.S. gasoline crack was trading at $11.10 abarrel, down from $12.08 a barrel.

NAPHTHA

* No cargoes traded.

(Reporting by Ron Bousso)

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