Asia’s gasoline markets remained stable above $8 per barrel over Brent crude on Tuesday due to muted bids, offers and trades at the deals window for a second straight day this week.

The benchmark-grade of the fuel traded at $89 per barrel compared with $88.25 a day earlier. GL92-SIN

New exports of fuel above 90-octane grade and below 97-octane grade to Kenya and Pakistan from Singapore has kept margins supported.

Kenya imported about 89,200 tons of the transport fuel this month via this rare route, while Pakistan imported 36,400 tons of the fuel, Enterprise Singapore data showed. O/SING1

In naphtha markets, refining profit margin slipped by $2.53 to $46.30 per metric ton over Brent crude on Tuesday.

NEWS
– Russia has increased daily crude oil processing by almost 5% in the first three weeks of November from October’s average level, raising its output of gasoline and diesel, on which an export ban has been lifted, sources told Reuters.

– Oil prices rose on Tuesday with the Brent benchmark rising above $80 a barrel, supported by expectations that the OPEC+ producer group may deepen and extend output cuts due to concern over softer global demand.

SINGAPORE CASH DEALS
One naphtha trade, no gasoline deals.
Source: Reuters (Reporting by Mohi Narayan; Editing by Janane Venkatraman)