Asia Naphtha/Gasoline-PSO seeks H2-Jan loading gasoline; naphtha backwardation narrows

Asia’s gasoline margins fell flat on Friday, even as a total of 250,000 barrels of 92-octane and 95-octane gasoline exchanged hands at the closing window.

The margins slipped to $9.01 per barrel over Brent crude, from $10.21 on Thursday.

In tenders, Pakistan’s PSO was seeking 92-octane gasoline for the loading period of Jan. 16-20, the company website listed. The tender closes on Dec. 9.

In naphtha, the margins dipped by $0.01 to $82.82 per metric ton over Brent crude.

The backwardation between second-half January and second-half February narrowed to $1.50.

Oil prices dipped on Friday, with weak demand in focus after the OPEC+ group postponed planned supply increases and extended deep output cuts to the end of 2026. O/R

SINGAPORE CASH DEALS O/AS

Two gasoline deals and one naphtha trade.
Source: Reuters (Reporting by Haridas)