Inventories build but the rally in cracks continues

Brent prompt future contract approached 60 $/b on Tuesday, as Saudi OSPs unveiled the bullish Saudi outlook on prices while holding premiums to Asian customers constant. ARA oil product stocks showed widespread builds, with gasoline and gasoil stocks surging respectively by more than 5% an 3%. Looking at Asian stocks, Gasoline diesel and fuel oil also climbed higher this week, with a combined build of 2.7 mb.