NEW DELHI: Asia's naphtha crack eased slightly from recent highs on Friday, after crude oil prices touched a fresh three-year peak, but the downside remained limited as European inventories dropped 16% amid strong petrochemical feedstock demand.
The crack slipped to $151.85 a tonne from $152.20 in the last session, and registered a weekly gain of 5%.
In physical markets, there were two deals for naphtha. BP purchased a first-half December loading cargo and a second-half December loading cargo.
Naphtha stocks at Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area declined to 244,000 tonnes in the week to Oct. 14, from prior week's 291,000 barrel, data from Dutch consultancy Insights Global showed.
The gasoline stocks in the region also eased but remained strong above $12 a barrel after ARA stocks fell almost 5% last week.
The refining profit margin eased to $12.13 per barrel from $12.56 in the last session, and gained 21% on week.
Gasoline inventories at ARA hub fell to 748,000 tonnes last week from 785,000 tonnes prior week.
Oil prices hit a fresh three-year high on Friday, climbing above $85 a barrel on forecasts of a supply deficit over the next few months as rocketing gas and coal prices stoke a switch to oil products.
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