Asia’s gasoline refining profit margin gained on Friday, buoyed by healthy demand, although there were no deals at the window despite multiple offers for 92- and 95-octane grades of the fuel.

The crack rose to $10.92 per barrel over Brent crude and the benchmark grade of gasoline traded at $88.25 a barrel.

Indonesia, Asia’s largest gasoline importer, sought 200,000 barrels per month of 90-octane grade of gasoline for July-September delivery, according to a document seen by Reuters. The tender closes on June 23 and is valid till June 27.

There are no restrictions on the origin of the cargo.

In the naphtha market, the crack traded at $73.78 per metric ton over Brent crude on Friday and the backwardation widened by 50 cents to $8.75 a ton.

NEWS

– Oil prices fell on Friday, but remained on course for a third consecutive weekly rise, after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict.

– Asian refiners have requested more term crude oil supplies loading in August and September from producers in the Middle East after spot premiums jumped, six trade sources said.
Source: Reuters