LONDON, July 20 - European gasoline prices held
above $600 a tonne in light trade on Monday, supported by
increased arbitrage opportunities to the United States. Prices were broadly in line with Friday just below $610 by
the close, having earlier risen as high as $622 a tonne. Traders said the dip in European prices relative to U.S.
RBOB gasoline futures had seen potential profits for European
traders move higher. "The arb has widened right out today," one trader said.
"While it's by no means strong, it looks workable on paper." Brokers said they stood to make around $3.50 a tonne by
shipping cargoes of the motor fuel to the United States.
above $600 a tonne in light trade on Monday, supported by
increased arbitrage opportunities to the United States. Prices were broadly in line with Friday just below $610 by
the close, having earlier risen as high as $622 a tonne. Traders said the dip in European prices relative to U.S.
RBOB gasoline futures had seen potential profits for European
traders move higher. "The arb has widened right out today," one trader said.
"While it's by no means strong, it looks workable on paper." Brokers said they stood to make around $3.50 a tonne by
shipping cargoes of the motor fuel to the United States.
