Asia's naphtha crack fell to a two-day session low of $94.73 a tonne on Thursday in muted year-end trade. The gasoline profit margin also fell, hitting a four-session low of $5.63 per barrel as supplies built. Singapore light distillates stocks, which comprise mostly gasoline and blending components for petrol, rose 395,000 barrels or 3.2% to reach a two-week high of 12.66 million barrels in the week to Dec. 25, data from Enterprise Singapore showed.
China had shipped close to 120,400 tonnes of gasoline to Singapore, bringing the total for December arrival there to around 690,000 tonnes versus nearly 910,000 tonnes in November, the data showed.
India's BPCL has offered 35,000 tonnes of naphtha for Jan. 10-11 loading from Kochi while HPCL offered 17,000 tonnes for Jan. 13-15 loading from Mumbai. Egypt has also offered a cargo of up to 38,500 tonnes for Jan. 14-16 loading from Suez. Adnoc's Ruwais facility will undergo routine maintenance in early 2020, the company said in a statement this week. US oil refiner Phillips 66 said a small fire at a boiler plant at its 139,000-barrel-per-day Los Angeles refinery in Wilmington, California, was extinguished on Tuesday and that the refinery is operating.
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