Asia Naphtha/Gasoline-Gasoline margins reach two-week high; naphtha backwardation narrows
Asia’s gasoline margins climbed on Tuesday to more than a two-week high as 750,000 barrels of the benchmark grade of octane exchanged hands at the closing window. The crack rose to $6.02 per barrel over Brent crude, its highest since Oct. 18. Saudi Aramco emerged as the biggest seller yet again, as it sold 400,000 of 92-octane gasoline at the end of the trading day. In naphtha, the margins slipped to more than a week low to $111.40 per metric ton over Brent crude, its lowest since Oct. 25. The ...
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