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SINGAPORE: Asia’s gasoline crack inched higher on Monday after rising 17.7% last week, buoyed by expectations of stronger demand as peak summer driving season draws near amid a tight market.
The crack rose to $26.85 a barrel from $26.62 in the previous session, as crude prices fell. On the supply side, net gasoline exports from Asia’s top suppliers for April closed at some 3.5 million metric tonnes (mt), below both the March and Q1 monthly average of 4.5-4.6 million mt and 4.2-4.3 million mt, respectively, Refinitiv Oil Research data showed.