Trading On margin

Gasoline margin drops to August 2021 low – Markets

NEW DELHI: Asian gasoline markets weakened to their lowest since August 2021 on Friday and the refining profit margin posted a weekly loss of more than 54% amid concerns about slowing demand, officials said. market participants said.

Crack fell to $6.26 a barrel from $9.68 a day earlier. The naphtha margin fell 73% this week to $10.23 a tonne amid muted trading.

In physical markets, energy trader Unipec grabbed two cargoes of the 95+ octane quality and one cargo of the 92 octane fuel benchmark quality. Vitol bought a cargo each of the two grades. “Refined commodity benchmark prices have largely weakened on demand woes resulting from a mix of recession fears and new waves of (COVID-19) infections across Asia,” Charles said. Ong, principal analyst at Refinitiv Oil Research.

Gasoline stocks held at the Amsterdam-Rotterdam-Antwerp (ARA) storage center rose to 1.246 million tonnes in the week to Thursday, from 1.223 million tonnes the previous week, according to data from the Dutch consultancy. Global Insights. Naphtha stocks increased by 4% to 376,000 tonnes.

Saudi Arabia more than doubled the amount of Russian fuel oil it imported in the second quarter to fuel power plants to meet cooling demand and free up the kingdom’s own crude for export, the data shows. and traders.