Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now
Asia gasoline sentiment is likely to be cautious in week starting April 26 amid rising number of COVID-19 cases in India and Malaysia, which could see more Indian cargoes offered in the market, while Asian naphtha demand remains supported by positive olefins margins and LG Chemical s impending steam cracker start up in June. Saudi Aramco is expected to lower the May propane and butane Contract Prices in its announcement end-week, reflecting plentiful supply in the Middle East, although Indonesia and India have emerged to seek spot cargoes for June.
Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now
Asia gasoline is underpinned by unplanned refinery outages in Indonesia and Japan, amid a pick up in driving activity in many parts of Asia while naphtha sentiment is waning as Western supply flows resumed in lieu of the unblocking of the Suez Canal, sources said.
The Middle East LPG market remained well supplied with Qatar Petroleum heard making no cuts, delays or advancements in its acceptances of May loading term cargo nominations. Front-month June ICE Brent crude futures rose $1.59/b from 0430 GMT April 1 to stand at $64.47/b at 0300 GMT April 5. Singapore was closed for Easter holiday on April 2.