Asia’s gasoline markets posted weekly gains of about 36% amid hopes of firmer demand during the Chinese holiday week, although the upside was limited due to rising stocks at key trading hubs.

The crack GL92-SIN-CRK rose to $3.95 a barrel over Brent crude on Friday, up from $2.99 a barrel a day earlier. The benchmark-grade of the fuel traded at about $88 per barrel.

At the Singapore window, energy trader Vitol bought 50,000 barrels of the 92-octane grade of the fuel. There were no trades for naphtha this week, market participants said.

The naphtha crack NAF-SIN-CRK in the region rose by about $2 to $17.25 a metric ton over Brent crude due to volatility in crude oil benchmarks and the second-half November naphtha price weakened by about $10 to $649.50 per ton.

INVENTORIES ARA/

Gasoline stocks held at the Amsterdam-Rotterdam-Antwerp (ARA) hub rose 1.2% to 1.34 million tons in the week ended Thursday, Insights Global data showed, as exports to transatlantic locations dropped sharply, with no cargoes heading to the United States.

Naphtha stocks rose to 220,000 tons in the week ended Oct. 5 from 179,000 tons in the prior week.

NEWS

– Russia’s government said on Friday it had lifted a ban on pipeline diesel exports via ports, removing the bulk of restrictions installed on Sept. 21. The restrictions for gasoline exports are still in place.

– Top oil exporter Saudi Arabia has raised the price of its flagship Arab Light crude to Asian customers in November for a fifth straight month, after the kingdom reaffirmed its voluntary supply cut.
Source: Reuters (Reporting by Mohi Narayan; Editing by Sherry Jacob-Phillips)