SINGAPORE: Asia's gasoline crack ended the month at a three-week high of over $3 a barrel on Friday, as inventories across key regions fell despite renewed lockdowns in Europe.
Gasoline inventories held independently at the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell nearly 8% to reach a six-and-a-half-month low of about 1.17 million tonnes, data from Dutch consultancy Insights Global showed.
This mirrored the trend in Singapore where light distillates stockpiles dived 15.7% to nearly 11-1/2-month low of 11.2 million barrels in the week to Wednesday.
Gasoline inventories in the United States had also fallen last week, latest data from the Energy Information Administration showed.
Consulting firms FGE, JBC Energy and Wood Mackenzie are expecting a tightly supplied gasoline market in Asia in fourth quarter.
"We continue to see gasoline supplies lagging behind demand growth," said Sri Paravaikkarasu, director for Asia oil at FGE.
"In a number of key demand centers like China and India, gasoline demand has recovered to pre-pandemic levels. Also, with the prevailing middle distillate overhang, refiners will be very cautious in ramping up crude runs," she said.-Reuters
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