Europe gasoline/naphtha-cracks jump as crude prices sink
LONDON, Nov 1 (Reuters) - Benchmark northwest European gasoline refining margins rose sharply on Thursday, buoyed by lower oil prices and inventory drawdowns on both sides of the Atlantic. U.S. gasoline stocks fell 3.2 million barrels last week, according to the Energy Information Administration. This compared with analysts' expectations in a Reuters poll for a 2.1 million barrels drop. Stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub declined slightly to 985,000 tonnes in the week to Thursday, according to data from Dutch consultancy PJK International. Nigeria's state oil firm NNPC said on Thursday it had signed a crude-for-product deal with BP for the next six months to help meet the country's gasoline needs over the holidays and ahead of its general election early next year.
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