SINGAPORE: Asia's naphtha and gasoline cracks rose for the second day on Wednesday to reach a five-session high of $82.90 a tonne and $2.37 a barrel, respectively, supported by positive manufacturing data and optimism on petrol demand picking up.
Gasoline inventories in the United States, world's largest petrol consumer, are forecast to have fallen last week by 1.6 million barrels, an extended Reuters poll showed on Tuesday. European gasoline and gasoline components shipped to the United States in June at around 983,000 tonnes were more than twice the amount sent in May, Refinitiv Eikon data showed.
Indonesia's Pertamina extended its purchase contract period to August-December from August to October.
This is the second time it has amended its tender to buy 500,000 barrels a month of 88-octane grade for multi-ports arrival on a cost-and-freight (C&F) basis and up to 250,000 barrels of the same grade on a free-on-board (FOB) basis.