China is exporting less gasoline to the Singapore trading hub, lending support to the Asia-Pacific market at a time when an open west-east arbitrage is yet to materialise.
China exported 281,700 bl of gasoline to Singapore during the week ended 14 July, about half the 530,200 bl exported a week earlier. Total Chinese exports to Singapore in the past three weeks reached around 1.03mn bl, less than half of the 2.45mn bl in the previous three weeks.
Lower refinery run rates in China and rising domestic demand contributed to reduced exports. Average run rates at Chinese refineries fell to 86.9pc during the week ended 9 July, down from 88.5pc in late June. The peak summer demand season also limited available volumes for export.
Singapore's onshore light distillates stocks, which include gasoline, reformate and naphtha, eased from a nine-week high as a result. Inventories fell nearly 5pc to 10.9mn bl during the week ended 14 July.
China exported 281,700 bl of gasoline to Singapore during the week ended 14 July, about half the 530,200 bl exported a week earlier. Total Chinese exports to Singapore in the past three weeks reached around 1.03mn bl, less than half of the 2.45mn bl in the previous three weeks.
Lower refinery run rates in China and rising domestic demand contributed to reduced exports. Average run rates at Chinese refineries fell to 86.9pc during the week ended 9 July, down from 88.5pc in late June. The peak summer demand season also limited available volumes for export.
Singapore's onshore light distillates stocks, which include gasoline, reformate and naphtha, eased from a nine-week high as a result. Inventories fell nearly 5pc to 10.9mn bl during the week ended 14 July.
