Asia’s gasoline margins continued to climb on Wednesday, as 300,000 barrels of the benchmark grade of octane exchanged hands at the closing window.

The margins rose to $9.57 per barrel over Brent crude, from $9.02 on Tuesday.

In naphtha, the margins were flat amid weaker regional demand.

The margins dipped by $1.13 to $91.28 per metric ton over Brent crude.

NEWS

Light distillate stocks, including naphtha and gasoline, at the Fujairah commercial hub rose by 416,000 barrels to 6.949 million barrels in the week ending Dec. 2, S&P Global Commodity Insights data showed.

U.S. gasoline inventories rose by 2.85 million barrels, and distillate stocks rose by 2.45 million barrels in the week ending Dec. 6, market sources said, citing American Petroleum Institute figures on Tuesday.

Oil prices climbed 1% on Wednesday as market participants anticipated a rise in demand from top importer China following Beijing’s latest plans to boost economic growth. O/R

SINGAPORE CASH DEALS O/AS

Four gasoline deals and no naphtha trade.
Source: Reuters (Reporting by Haridas; Editing by Eileen Soreng)