SINGAPORE: Asia’s gasoline crack fell on Monday to its lowest level since May 17 as a sharp rise in coronavirus cases in parts of Southeast Asia triggered fresh mobility restrictions.
The gasoline crack dropped to $4.75 per barrel from $6.28 per barrel in the previous session.
The number of daily new COVID-19 cases in Malaysia has soared past India’s on a per capita basis, while total cases in Thailand, Vietnam, Cambodia, Laos and East Timor have all more than doubled in the past month.
Malaysia will enter a nationwide two-week “total lockdown” starting on June 1.
Vietnam’s business hub Ho Chi Minh City began social distancing measures for 15 days starting on Monday, while incoming international flights to capital city Hanoi will be suspended from Tuesday.
Asia’s naphtha crack stayed firm on Monday, rising for a second straight session to $104.50 per tonne, compared with $102.60 per tonne in the previous session.
Iran’s oil output can easily reach 6.5 million barrels per day (bpd) when US sanctions are lifted, Iranian Oil Minister Bijan Zanganeh said on Monday, according to the Ministry’s SHANA website. No naphtha deal.