SINGAPORE: Asia's gasoline and naphtha cracks slipped on Thursday as concerns of ample supplies and sluggish demand continued to weigh on the market sentiment.
This came as official data showed Singapore continued to grapple with higher inventories as seen from data released by the International Enterprise (IE) Singapore on Thursday.
The naphtha crack to Brent crude fell for a third straight session on Thursday and a five-session low of $25.03 a tonne.
Similarly, the benchmark Singapore 92 RON gasoline crack against Brent crude slipped to $0.87 a barrel, down from a near-three week high of $1.64 in the previous session.
INVENTORIES: Singapore inventories of light distillates climbed to a total of 13.444 million barrels in the week to Nov. 21, up by 3.7 percent, or 483,000 barrels from the week before, official IE Singapore data showed.
- This week's inventories of light distillates, which include gasoline, reformate and naphtha, were 18 percent higher than a year earlier.
- Singapore light distillate inventories averaged 13.298 million barrels per week so far this year.
Comments
Comments are closed for this article.