Asia's gasoline recovers after seven week low

Asia's gasoline crack recovered to a four-session high of $6.71 a barrel on Friday after dipping to a seven-week low in the previous session.

Falling inventories in the United States and Europe countered some of the weakness in the Asian market, where supplies in the main trading and refining hub of Singapore have been rising for three straight weeks.

Gasoline stocks in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell 10.46% to 796,000 tonnes in the week to Thursday, the lowest since August 2018, on firm exports, data from Dutch consultancy Insights Global showed.

India's BPCL has an outstanding tender to sell a total of 60,000 tonnes of naphtha for November loading from Mumbai through a tender due to be awarded on late Friday.

Indian refiners have been fetching premiums that were not seen since 2013 as tight supplies persisted.

HPCL offered a small parcel of 17,000 tonnes of naphtha for Nov. 20-22 loading through a tender due to be awarded next Tuesday.