Asia’s gasoline margins rallied on Friday after dipping in the previous session, amid improvements in refining margins and overall reduced exports from China.

The crack dipped to $4.62 per barrel over Brent crude from $4.40 on Thursday.

Regional traders shared that while they are optimistic on the massive economic stimulus package unveiled by China, they do not forsee an increase in Chinese gasoline exports.

In naphtha, the margins dipped to a six-week low of $101.40, its lowest since Sept. 26.

The backwardation between second-half December and second-half January narrowed to $6.

INVENTORIES

Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rise to 1.122 million metric tons from prior week’s 1.093 million tons, in the week ended Nov. 7 data from Dutch consultancy Insights Global showed. Naphtha stocks roseto 568,000 tons from preivous week’s 537,000 tons, the data showed.

NEWS

Oil prices fell slightly, amid concerns over a hurricane in the Gulf of Mexico expected to significantly affect U.S. oil and a decline in gas output, while the market weighed how President-elect Donald Trump’s policies might affect supplies.

Global oil prices are expected to stay in the $70 to $80 per barrel range in 2025, similar to 2024, while geopolitical risks create uncertainty around supply, Russell Hardy, CEO of Vitol, the world’s largest independent oil trader, said on Thursday.

SINGAPORE CASH DEALS

Four gasoline deals and two naphtha trade.
Source: Reuters (Reporting by Haridas; Editing by Rashmi Aich)