Europe Gasoline-Down on lower export hope to U.S.

LONDON, June 19 (Reuters) - European gasoline prices fell on
Friday after U.S. RBOB futures weakened, reducing arbitrage
opportunities for traders.

Traders have been watching prices in the United States as
they try to gauge the number of exports likely to head west
during the summer driving season.

PRICES

* Premium unleaded 10ppm gasoline barges traded at $682 a
tonne fob ARA, down from Thursday's close at $690-$696.

* Trade volume totalled around 33,000 tonnes on Friday, but
most of the action occurred in the morning.

* The crack to dated Brent BFO- fell to $10.60 a barrel.

* Brent crude oil futures LCOc1 traded higher for most of
the day, but then reversed sharply in a broad market sell-off,
after U.S. RBOB gasoline futures broke below the $2 a gallon
mark.

* Brent traded down $1.24 at $70.13 a barrel at 1702 GMT.

* In the United States, New York RBOB gasoline futures
RBc1 fell 3.57 percent to $1.9570 a gallon, having closed
$2.0295 gallon.

SWAPS

* Gasoline swaps fell to $683.05 a tonne for the balance of
June and $676.50 for July, with the backwardation to August
narrowing to around $10.05 from $10.25.

* Cracks were $7.85 a barrel for the third quarter and $2.15
for the fourth quarter.

NAPHTHA

* Naphtha prices fell slightly, down to around $585 a tonne
cif NWE.

* Naphtha swaps were minus $6.90 a barrel for the third
quarter and minus $7.85 for the fourth quarter.

INVENTORIES

* Gasoline inventory held at the ARA independent tanks rose
to 706,000 tonnes over the past week, nearing a level hit a year
earlier, due to a slow pick up in summer holiday demand, Dutch
oil analyst Pieter Kulsen said.
(Reporting by David Sheppard and Emma Farge; editing by James
Jukwey)