Asia’s gasoline margins inched down on Thursday, even as 200,000 barrels of the benchmark grade of octane exchanged hands at the closing window.

The crack GL92-SIN-CRK dipped to $5.71 per barrel over Brent crude, after climbing for four straight sessions.

In naphtha, the crack NAF-SIN-CRK gained $3.39 to $93.82 per metric ton over Brent crude, continuing its climb for the fourth consecutive session.

Singapore’s light distillate stocks rose by 1.041 million barrels to a seven week high of 15.165 million barrels in the week ending Nov. 20, data from Enterprise Singapore showed.

U.S. gasoline stocks USOILG=ECI rose by 2.1 million barrels in the week ending Nov. 15 to 208.9 million barrels, the Energy Information Administration said on Wednesday.

U.S. distillate stockpiles USOILD=ECI fell by 100,000 barrels in the week to 114.3 million barrels.

NEWS

Oil prices rose on Thursday as Russia and Ukraine launched missiles at each other, overshadowing the impact of a bigger-than-expected increase in U.S. crude inventories.

Sinochem Group may keep three bankrupt oil refineries located in eastern China after auctions to sell them drew little interest from other companies, sources familiar with the matter said.

SINGAPORE CASH DEALS O/AS

Four gasoline deals and no naphtha trade.
Source: Reuters (Reporting by Haridas; Editing by Varun H K)