Asian gasoline cracks hit record high as summer driving boosts demand
A resurgence of car travel during the peak summer driving season following eased pandemic restrictions has bolstered the Asian gasoline market, leading crack margins to hit all-time highs, with swaps market trading activity signaling strength for the medium term, S&P Global Commodity Insights data shows. The benchmark Platts FOB Singapore 92 RON gasoline cargo crack against the front month ICE Brent crude futures strengthened $7.56/b, or 24.89% week on week to an all-time high of $37.93/b at the Asian close June 22, according to S&P Global data. Asian gasoline market ...
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