Asia Gasoline-S.Korea's KNOC seeks gasoline in rare tender
SEOUL/SINGAPORE Oct 10 (Reuters) - State-run Korea National Oil Corp (KNOC) has issued a rare gasoline tender seeking 168,000 barrels for December delivery as a part of its strategic reserve inventories, traders said on Thursday.
The firm usually issues two such tenders a year to build on its strategic reserves with the most recent one issued around March but the results of that tender were not known.
The new tender, which closes on Oct. 11, is coming at a time when Asia is swamped with gasoline supplies due to off-peak seasonal demand from Indonesia.
Weaker demand and high stocks brought the Asian gasoline margin down to $2.76 a barrel on Oct. 9 versus this year's average of $8.40 a barrel. (Reporting by Seng Li Peng and Meeyoung Cho in SEOUL; Editing by Subhranshu Sahu)
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