SINGAPORE: Asia's naphtha crack eased 1.67% from a near 2-1/2-week high to $83.83 a tonne on Tuesday as buying slowed following a string of purchases last week for first-half September cargoes.
Last week's buyers included Malaysia-based Titan, Singapore's PCS, Taiwan's Formosa, China's CNOOC and South Korea's YNCC, KPIC, Lotte Chemical and LG Chem.
Overall total naphtha flows into Asia for July are seen at 5.5-5.6 million tonnes so far, down sharply from June's volumes of 6-6.1 million tonnes, data from Refinitiv Oil Research showed.
Asia's gasoline crack tumbled 30% to reach a one-month low of 90 cents-a-barrel premium over Brent crude as rising COVID-19 infections across the world threatened demand recovery.
More than 16.57 million people have been reported to be infected by the novel coronavirus globally and 654,269? have died, according to a Reuters tally.
Expectations of higher Chinese exports were also weighing on the market as China was seen importing record high volumes of crude in May and June.
Chinese gasoline exports in July are seen at 1.1 to 1.2 million tonnes, said an industry source and consulting firm FGE.
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