Asia’s gasoline refining margins dropped to their lowest in seven weeks on Friday, falling for the week as stockpiles of the distillate product in Europe jumped to a record high while only one regional deal took place by the end of the session.
The crack (GL92-SIN-CRK) lost $0.99 from the previous day to $5.53, posting a decline of 22.33% this week.
Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose over 8% on the week to their highest on record, data from Dutch consultancy Insights Global showed.
The inventories continued to rise owing to low exports, especially on the transatlantic route to the U.S., Insight Global’s Lars van Wageningen said.
Still, on the naphtha end, the stockpiles dipped by 1.05% to 469,000 tons.
In thin trading for the day, naphtha cracking margins (NAF-SIN-CRK) fell over $7 to $85.60, snapping a two-week rise to lose 21.93% on the week.
