Asia’s gasoline refining profit margin rose on Wednesday, after a flurry of trades at the deals window lifted market sentiment.

The crack rose to $8.74 per barrel over Brent crude, up from $7.05 a day earlier. A total of 300,000 barrels of benchmark-grade of gasoline was traded at the window, while 100,000 barrels each of the higher 95-octane and 97-octane grade of the fuel changed hands.

In tenders, Taiwan’s CPC offered 18,000 tons of reformate for May loading from Kaohsiung port, the company said in a document. The tender closes on April 21.

The naphtha crack, on the other hand, declined by about $11 to $70.05 per metric ton over Brent crude.

NEWS

– China’s oil refinery throughput edged up 0.4% in March from a high base a year earlier, data showed on Wednesday, supported by production increases at small independent plants and higher operations at a new plant.

– Oil prices fell on Wednesday as shifting U.S. tariff policies and the U.S.-China trade war prompt traders to consider the potential impact on economic growth and energy demand.

– Australia’s top fuel retailer Ampol reported a 49% drop in first-quarter refining margins for its Lytton refinery in Queensland on Wednesday, citing lost production due to Cyclone Alfred and weak refining margins in Singapore — a bellwether for Asia.

SINGAPORE CASH DEALS

Five gasoline trades and two naphtha deals.
Source: Reuters