Asia’s gasoline margins improved on Tuesday after falling in the previous session.

The crack rose to $4.06 per barrel over Brent crude from $3.20 in the previous session.

Oman’s OQLTD emerged as the biggest buyer at the closing window, snapping up 80% of the total number of the benchmark grade of octane traded.

In tenders, Pakistan’s PSO is seeking 92-gasoline and 95-gasoline for the loading period of Nov. 1-5, the company website stated. PSO is also seeking an additional supply of three cargoes, each with a 55,000 metric tons load of 92-gasoline under a term contract for the loading periods of Nov. 20-25, Dec. 20-25, and Jan. 20-25, 2025. Both these tenders close on Oct. 14.

Additionally, PSO is also seeking 95-gasoline for the loading period of Nov. 1-5, the company listed on its website. The tender closes on Oct. 10.

In naphtha, the crack dipped for the third consecutive session to $109.95 per metric ton over Brent crude.

NEWS

Oil prices declined on Tuesday with concerns over potential oil supply disruption easing as the market still awaits an Israeli response to the Iranian rocket attacks last week which triggered the crude price rally. Brent crude futures fell $1.11, or 1.37%, to $79.82 per barrel. U.S. West Texas Intermediate futures fell $1.12, or 1.45%, to $76.82 a barrel.

Austrian oil and gas group OMV OMVV.VI said on Tuesday it expected an impact of more than 200 million euros ($220 million) on its third-quarter clean operating result following oil production disruptions in Libya.

Brazilian state-run oil firm Petrobras PETR4.SA produced a record 436,000 barrels of gasoline per day in the third quarter, up 2.8% from the same period a year earlier, according to a securities filing on Monday.

SINGAPORE CASH DEALS O/AS

Five gasoline deals and one naphtha trade.
Source: Reuters (Reporting by Haridas; Editing by Vijay Kishore)