LONDON, April 24 (Reuters) - Gasoline margins declined on
Wednesday in light trade as crude oil gained and as inventories
in the U.S. east coast, an important export market for European
gasoline, have risen despite a big overall draw in stocks.
The Energy Information Administration said East Coast
gasoline stockpiles rose by 570,000 barrels to just over 60.5
million barrels, the highest level since March 2012.
This put into question the need for speculative cargoes that
traders said were heading from Europe to the United States.
Trade was also quiet in the Mediterranean for gasoline, and
no deals were done in the naphtha market, traders said.
* No barges of benchmark European gasoline traded in the
Platts window for a third day.
* Ahead of the window, some 7,000 tonnes traded on the Argus
platform at $933-$936 a tonne fob ARA, up a touch from the
$930-$932 a tonne fob ARA the day before.
* Trades came at premiums to the May swap of $6-$8 a tonne
* Gunvor, Trafigura and BP sold to Total and Cargill.
* No premium unleaded barges traded.
* By 1608 GMT, Eurobob's crack to dated Brent was at around
$10.28 a barrel, down from the $11.64 a barrel the day before.
* ICE Brent crude futures were up $1.35 cents at
$101.66 a barrel.
* U.S. benchmark RBOB gasoline futures in New York
were up 0.49 percent at $2.7234 a gallon around the same time.
* No cargoes traded. Offers came at $795-$796 a tonne cif
NWE, above the offers at $790-$792 a tonne the day before. There
were no bids
* Morgan Stanley, Gunvor, Glencore and Vitol all offered
* The crack was at around minus $12.70 a tonne according to
(Reporting by Simon Falush, additional reporting by Ron Bousso;
Editing by Anthony Barker)
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