Asia Naphtha/Gasoline Margins post weekly loss, ARA inventories rise

  • 11/19/2021
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NEW DELHI, Nov 19 (Reuters) - Asia"s naphtha and gasoline cracks both declined more than 8% this week on higher oil prices, despite gains on Friday fueled by potential release of crude reserves by top economies. The naphtha crack rose to $154.65 a tonne from $152.53 in the previous session, while the gasoline margin inched higher to $9.83 a barrel from $9.72.On consumption side, Japanese gasoline demand was recorded at around 700,000 barrels per day (bpd) over the last month, nearly 90,000 bpd below the five-year average, according to data from consultancy JBC Energy. Meanwhile, gasoline stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area rose by 2.8% in the week to Thursday, data from Dutch consultancy Insights Global showed. The naphtha inventories rose to 263,000 tonnes, from 193,000 tonnes in the prior week. NEWS - Governments from some of the world"s biggest economies said they were looking into releasing oil from their strategic reserves, following a rare request from the United States for a coordinated move to cool global energy prices and ahead of a meeting of major oil producing countries. read more - China"s Shandong province has ordered its refineries, including three plants under state-run Sinochem Holdings, to self-inspect and self-rectify any irregular fuel tax practices, a document reviewed by Reuters on Thursday showed. read more CASH DEALS : No naphtha trades, no gasoline deals.

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