Asia's gasoline crack flipped to a discount on Tuesday, as pressure from high supplies pulled it back from the previous day's positive territory.
The crack was at a discount of 33 cents a barrel, its lowest since January 9.
Gasoline stockpiles were high across regions, with sellers seemingly struggling to place cargoes.
Exports from Europe to the US East Coast, traditionally the main outlet for surplus gasoline, dropped in the second half of 2018, leading to sharp stock builds. As a result, European exports of gasoline to the Middle East and Asia have surged in January.
A tanker carrying gasoline from the US Gulf Coast was headed to Australia on Monday, an unusual route that traders said pointed to signs of oversupply in the former.
Naphtha: Weak gasoline fundamentals have also hit Asia's naphtha, where cracks eased 3 percent to a two-session low of $43.28 a tonne.
Asia's top naphtha buyer, Formosa Petrochemical Corp, was looking to buy heavy naphtha for March 11-25 arrival at Mailiao through a tender closing on Jan. 16, with offers valid until Jan. 17.
India's Bharat Petroleum Corp (BPCL) offered 25,000 tonnes of naphtha for loading between Jan. 31 to Feb. 2 from Mumbai. The tender closes on Jan. 17.
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