

LONDON, Dec 4 (Reuters) - Gasoline and naphtha prices fell
more sharply than crude on Tuesday, as support from west Africa
thinned and activity continued to slow ahead of the winter
holidays.
Around 15 gasoline cargoes have been booked for delivery to
west African countries over the next few weeks, a trader said,
with most of the deliveries going to Nigeria and Angola.
'There has been a little bit of interest, but the main
buying was last week,' said one gasoline trader.
Independent firms were buying, along with traders that swap
product deliveries for crude, he added.
Naphtha prices were also dampened by weaker demand in other
regions, as cracks in Asia fell, reflecting falling demand by
petrochemical end users.
In Europe however, hopes for sales to petrochemical buyers
were boosted by the relative strength of rival feedstock
propane.
Propane cargoes continued to trade at least $100 a tonne
above naphtha cargoes, with the December propane/naphtha swap
hovering at around $101 a tonne, a propane trader said.
More generally, steep oil market losses also weighed on
product markets in the region on Tuesday. Brent shed more than
1.3 percent during the session, dragged lower by concerns about
the U.S. budget crisis and falling global fuel demand.
GASOLINE
* No barges of benchmark Eurobob traded in the window on
Tuesday, for a fifth session.
* Some nine barges changed hands ahead of the window, with
prices falling from $964 to $953 a tonne fob ARA during the
session, below Monday's $967-$973 a tonne fob ARA range.
* Trafigura did most of the selling and some of the buying,
while Gunvor, Shell, Chevron and BP also bought and sold barges
during the day.
* The early trades came at premiums to the December swap of
$11.50-$15 a tonne, wider than Monday's $13-$14 a tonne range.
* Four barges of premium unleaded gasoline traded in the
window at $973 a tonne fob ARA, down from $984-$986 a tonne fob
ARA on Monday.
* Statoil and Vitol sold to Total, Glencore and Litasco.
* In the northwest, Gunvor sold a cargo to Greenergy at $969
a tonne cif Thames for delivery on Dec. 14-18.
* At 1709 GMT, Brent crude oil futures were down
$1.32 at $109.60 a barrel.
* Eurobob's crack to dated Brent was at around $3.49
a barrel, down from $4.53 a barrel the previous afternoon.
* December U.S. RBOB gasoline futures were down 1.32
percent at $2.6905 a gallon.
* RBOB's crack to U.S. crude futures was at
$24.49 a barrel, close to a dollar below the previous close.
NAPHTHA
* BASF sold a cargo of naphtha to Trafigura at $931 a tonne
cif NWE, down from $948-$950 a tonne cif NWE on Monday.
* The naphtha crack was at around minus $4.90 a barrel late
on Tuesday, according to Reuters calculations, down from minus
$4.34 a barrel the previous evening.
(Reporting by Jessica Donati; editing by James Jukwey)
((jessica.donati@thomsonreuters.com)(Phone: 44)(0)(207 542
7220)(Reuters Messaging:
jessica.donati.reuters.com@reuters.net))
Keywords: MARKETS EUROPE/GASOLINE
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