NEW DELHI: Asia’s gasoline crack extended gains on Friday after crude oil prices weakened and a flurry of trades in the Singapore window boosted market sentiment.
There were nine trades in the physical market for 400,000 barrels of the benchmark 92-octane grade and 50,000 barrels of the higher 95-octane grade gasoline, market watchers said. Vitol purchased five cargoes of the benchmark grade of the motor fuel.
Naphtha stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area dropped to 278,000 tonnes in the week to Thursday from 318,000 tonnes in the prior week, data from Dutch consultancy Insights Global showed. Gasoline stocks were steady week on week.
Senior Indonesian minister Luhut Pandjaitan said on Friday prices of 90-octane gasoline and subsidised liquefied petroleum gas in 3-kg cannisters may be increased to reflect higher global energy prices.
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