Asia’s gasoline margins inched down on Friday as demand continues to be bearish, weighing down sentiments, in the midst of a lower export from China.

The crack dipped to $5.50 per barrel over Brent crude, from $5.71 on Thursday.

In tenders, Pakistan’s PSO was seeking 92-octane gasoline for the loading period of Jan. 5-11, the company website listed. The tender closes on Dec. 2.

In naphtha, the margins inched down by $2.07 to $91.75.

The backwardation between first-half January and first-half February remained at $2.

NEWS

Oil prices held steady on Friday, on track for a weekly rise of 5%, as the Ukraine war intensified and Chinese imports were set to increase in November.

Oil loadings from Russia’s western ports in December are expected to slip by some 100,000 barrels per day (bpd) to 1.8 million bpd amid rising refinery runs, according to three market sources and Reuters calculations.

SINGAPORE CASH DEALS

Five gasoline deals and no naphtha trade.
Source: Reuters (Reporting by Haridas; Editing by Krishna Chandra Eluri)