Asia’s gasoline refining profit margin gained on Wednesday after trading activity at the window bounced back and U.S. stocks declined.

The crack rose to $8.91 per barrel over Brent crude, compared with $8.92 in the previous session.

In tenders, Sri Lanka’s Ceypetco sought 300,000 barrels of 92-octane grade of gasoline for May 5-6 delivery in a tender that closes on April 1 and is valid for 72 hours, the company said in a document.

Nayara Energy offered 33,000-35,000 tons of naphtha for April 26-30 laycan in a tender that closed on Tuesday, while Indian Oil offered 20,000-23,000 tons of naphtha for April 10-15, market participants said.

Kuwait’s KPC offered 50,000 tons full range naphtha for April 14-15 in a tender that closes on Wednesday, they added.

NEWS

– Russia’s daily oil exports from its western ports are set to rise by some 100,000 barrels per day to 1.97 million bpd in April from March as the impact of seasonal domestic refinery maintenance outweighs output cuts under an OPEC+ agreement, Reuters calculations based on data from three sources showed.

– The United States reached separate deals on Tuesday with Ukraine and Russia to pause their attacks at sea and against energy targets, with Washington agreeing to push to lift some sanctions against Moscow.

SINGAPORE CASH DEALS

Two gasoline trades and no naphtha deals.
Source: Reuters