Europe Gasoline-Prices firm, crack at 1 month low

LONDON, Nov 25 (Reuters) - European gasoline prices firmed on Wednesday but the gain was capped by a rise in inventories in the United States, the key export market for European refiners, and gasoline's crack fell to its lowest in one month.



PRICES

* Benchmark 10ppm premium unleaded gasoline prices traded in a relatively narrow range of $683 and $690 a tonne fob ARA throughout the day, compared with $680-$685 at Tuesday's close.

* Dealing was a moderate 13,000 tonnes.

* The Eurograde's crack to dated Brent fell about 20 cents to $5.35 a barrel, the lowest level since late October.

* Gasoline's crack has remained below the ICE gas oil futures crack for the second day although the outright prices were still higher than gas oil.

* ICE gas oil was trading around $616 a tonne, with its crack to Brent futures at $6.16 a barrel by 1851 GMT.

* Brent crude futures were trading $1.60 up at $78.86 a barrel by 1842 GMT.

* European gasoline swaps were around $686 a tonne fob ARA for December, with its discount to January unchanged around $7/$8 a tonne.

* Cracks were slightly weaker at $4.55 a tonne for December than $5.15 on Tuesday.

* RBOB gasoline was trading up around 2 percent up at $1.9809 a gallon. Its crack to U.S. crude futures was around $6.82 a barrel.

* Naphtha was not actively discussed.



U.S. GASOLINE INVENTORY

* U.S. government data showed on Wednesday gasoline inventories increased by 1 million barrels last week to 210.1 million barrels, topping the average analyst expectation that they had risen by 300,000 barrels.
(Reporting by Ikuko Kurahone, editing by Anthony Barker)
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