Thu Mar 25, 2010 11:38pm IST
LONDON, March 25 (Reuters) - European gasoline prices firmed
on Thursday, with the summer grades' crack holding around
$14-$15 a barrel, as refinery run cuts were likely to be
stretched into April.
Tamoil Raffinazione SpA said in a statement that production
at Italy's Cremona refinery would be suspended as of March 29 to
reduce excess stock. [ID:nWEB7319]
Gasoline stocks held at the ARA independent tanks rose on
Thursday from last week due mainly to stockpiling ahead of an
increase in demand in spring and summer, Dutch oil analyst
Pieter Kulsen said. [ARA/]
PRICES
* Barges of 10ppm premium unleaded gasoline traded at
$779-$780 a tonne fob ARA at the market close, marginally up
from $772-$776 on Wednesday.
* The crack to dated Brent BFO- firmed to $15 a barrel
from $was little changed from Tuesday around $14.20 a barrel.
* Eurobob gasoline traded around $783 a tonne outside the
public trading window, which put its crack around $14 a barrel.
* ICE Brent futures LCOc1 were trading 71 cents higher at
$80.33 a barrel by 1726 GMT.
* New York RBOB gasoline futures RBC1 were 0.6 percent up
at $2.2335 a gallon, lagging behind a 1 percent gain in crude
oil prices. CLc1
* Its crack to U.S. crude narrowed by 20 cents to about
$12.50 a barrel from Wednesday's close.
SWAPS
* Gasoline swaps were $774 a tonne fob ARA for April. The
April/May backwardation was around $9 a tonne.
NAPHTHA
* Naphtha swaps held at $700 a tonne cif NWE for April and
May at $694.
(Reporting by Ikuko Kurahone, editing by Anthony Barker)
Source: http://in.reuters.com/article/oilRpt/idINLDE62O2A920100325
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