Bloomberg: European Gasoline Crack Drops

“European gasoline’s crack, or premium to Brent crude, dropped after reaching a four-month high yesterday on news of the planned closure of Hess Corp.’s Port Reading refinery in New Jersey next month. Gasoil advanced for the seventh session in eight on the ICE Futures Europe exchange in London. . . . Fuel oil bookings for cargoes from Western countries arriving in Asia in February rose 6 percent from a week ago to 3.4 million tons, shipping data compiled by Bloomberg show.  At least 19 tankers, including seven very large crude carriers, are scheduled to arrive from Europe, the U.S. and the Caribbean, according to data from shipbrokers including Poten & Partners Inc. and information from traders. That’s up from 3.2 million tons reported last week. Some fixtures are provisional and may be changed or canceled. “