NEW DELHI: Asia’s gasoline crack fell below $7 a barrel on Monday, after a week of gains, while demand for the higher 95-octane grade of the fuel at the trading window stayed firm.
The crack slipped to $6.87 per barrel from $7.26 on Friday.
There were six deals in physical markets, out of which four were for the 95-octane gasoline and two were for the benchmark 92-octane grade. Total purchased three cargoes of the higher grade.
Meanwhile, the refining margin for naphtha in the region gained for a fourth consecutive session, hitting a five-week high, as crude oil prices dropped more than $1 due to firming dollar and a rise in US rig count.
The crack rose to $139.15 a tonne, highest since mid-August, from $137.50 in the last session.
Saudi Arabia, the world’s biggest oil exporter, kept its ranking as China’s top crude supplier for a ninth straight month in August as major producers relaxed production cuts.
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