Europe Gasoline/Naphtha-Cracks slip as oil rises on U.S. inflation data

April 12 (Reuters) - Northwest European gasoline refining margins slipped to $19.66 a barrel on Wednesday as crude prices rose on lower-than-expected U.S. inflation data and as French refinery strikes were due to resume.
* Oil prices rose on Wednesday as cooling U.S. inflation data spurred hopes that the Federal Reserve is getting closer to ending its cycle of interest rate hikes and cushioned the impact of a small build in U.S. crude oil stocks.
* European refiners' crude intake in March rose by 7.1% from a year earlier to 9.52 million barrels per day (bpd) as plants increased output after a ban on Russian fuel imports, Euroilstock data showed on Wednesday.
* The intake, however, was down by 1.3% from February, the data showed.
* Gasoline output at 109 million barrels was unchanged from last month, but down 1.8% from a year earlier.
* U.S. gasoline inventories fell less-than-expected in week to April 7, the Energy Information Administration said on Wednesday.
* U.S. gasoline stocks fell by 300,000 barrels in the week to 222.2 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.6 million-barrel drop.?
* U.S. oil refiners are expected to have about 1.03 million barrels per day (bpd) of capacity offline for the week ending April 14, increasing available refining capacity by 269,000 bpd, research company IIR Energy said on Wednesday.
* TotalEnergies' Gonfreville refinery in northern France started returning to operations on Tuesday, the company said, marking the last of its four domestic refineries to restart after a month-long strike.
* However, the hardline CGT union will call for a walkout at all refineries on Thursday as part of a planned nationwide strike against the French government's plans to raise the retirement age by two years to 64. Trades Bids Offers Prev. Sellers Buyers (vol.) Trades
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Ebob crack (per barrel) $19.663 Prev. $21.326 Brent futures Rbob Rbob crack (Reporting by Noah Browning; Editing by Shailesh Kuber)

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Reuters

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Europe Gasoline/Naphtha-Cracks slip as oil rises on U.S. inflation data

By Reuters

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