SINGAPORE: Asia's gasoline crack hit a near two-week high of $3.02 a barrel on Monday on active cash trades in Singapore.
Six deals totalling 300,000 barrels were traded in the Singapore cash market, the highest one-day volume since July 14.
Vitol was the dominant buyer of the cargoes, having bought 5 of the 6 cargoes sold.
Official Chinese preliminary trade data showed that the country exported a total of 4.27 million tonnes of refined oil products in August, up 33% from July and 4.65% from a year ago.
Asia's naphtha crack eased from a 5-1/2 week high to a two-session low of $80.53 a tonne on muted demand following a string of purchases last week.
Indian Oil Corp (IOC) has offered 35,000 tonnes of naphtha for Sept. 23-25 loading from Chennai through a tender due to be awarded on September 9.
India's Hindustan Petroleum Corp Ltd (HPCL) offered 21,000 tonnes of naphtha to be co-loaded with 7,000 tonnes of 81-octane grade gasoline for Sept. 23-25 loading from Mumbai through a tender due to be awarded on September 8.
Australia's Viva Energy Group said on Monday it may be able to resume full output at its Victorian refinery if coronavirus lockdown curbs are eased, but warned a full shutdown is still on the cards given the dire long-term outlook for the industry.
Australia is net short of gasoline and relies on imports to meet some of its needs.
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