SINGAPORE: Asia’s gasoline cracks fell for a third session on Friday, while regional demand outlook remains cloudy as the new wave of COVID-19 pandemic hit several countries. India reported another record number of new COVID-19 infections on Friday, with daily deaths also hitting their highest in more than five months.
The Philippines also reported on Friday its highest single-day spike in fatalities. A coronavirus outbreak hit Thailand’s capital and may take more than two months to control.
Japan aims to place Tokyo under a new, month-long “quasi-emergency” state to combat surging COVID-19 case numbers. The gasoline crack fell to $6.39 a barrel, the lowest since March 29, from $6.54 a barrel in the previous session.
Asia’s naphtha crack also weakened to $94.43 a tonne, the lowest since March 18, from $96.30 a tonne in the previous session.
Gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by 2.5% in the week to Thursday, data from Dutch consultancy Insights Global showed. Indonesia’s PT Pertamina has resumed normal operations at its Balongan refinery after a fire broke out last week at four of its storage units, the state oil company said in a statement on Friday.
Trafigura has begun launching a carbon trading desk led by Hannah Hauman, the global commodities trading firm said on Friday, as part of its push to gain a foothold in the global energy transition.
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