AGL 39.18 Decreased By ▼ -0.82 (-2.05%)
AIRLINK 127.97 Decreased By ▼ -1.09 (-0.84%)
BOP 6.82 Increased By ▲ 0.07 (1.04%)
CNERGY 4.68 Increased By ▲ 0.19 (4.23%)
DCL 8.50 Decreased By ▼ -0.05 (-0.58%)
DFML 41.20 Increased By ▲ 0.38 (0.93%)
DGKC 82.17 Increased By ▲ 1.21 (1.49%)
FCCL 33.00 Increased By ▲ 0.23 (0.7%)
FFBL 73.99 Decreased By ▼ -0.44 (-0.59%)
FFL 11.81 Increased By ▲ 0.07 (0.6%)
HUBC 109.50 Decreased By ▼ -0.08 (-0.07%)
HUMNL 14.10 Increased By ▲ 0.35 (2.55%)
KEL 5.21 Decreased By ▼ -0.10 (-1.88%)
KOSM 7.64 Decreased By ▼ -0.08 (-1.04%)
MLCF 39.10 Increased By ▲ 0.50 (1.3%)
NBP 63.69 Increased By ▲ 0.18 (0.28%)
OGDC 192.75 Decreased By ▼ -1.94 (-1%)
PAEL 25.60 Decreased By ▼ -0.11 (-0.43%)
PIBTL 7.29 Decreased By ▼ -0.10 (-1.35%)
PPL 152.90 Decreased By ▼ -2.55 (-1.64%)
PRL 25.45 Decreased By ▼ -0.34 (-1.32%)
PTC 17.48 Decreased By ▼ -0.02 (-0.11%)
SEARL 82.12 Increased By ▲ 3.47 (4.41%)
TELE 7.60 Decreased By ▼ -0.26 (-3.31%)
TOMCL 33.34 Decreased By ▼ -0.39 (-1.16%)
TPLP 8.44 Increased By ▲ 0.04 (0.48%)
TREET 16.36 Increased By ▲ 0.09 (0.55%)
TRG 56.50 Decreased By ▼ -1.72 (-2.95%)
UNITY 27.55 Increased By ▲ 0.06 (0.22%)
WTL 1.36 Decreased By ▼ -0.03 (-2.16%)
BR100 10,495 Increased By 50.1 (0.48%)
BR30 31,049 Decreased By -140.2 (-0.45%)
KSE100 98,124 Increased By 325.4 (0.33%)
KSE30 30,634 Increased By 153 (0.5%)

NEW DELHI: Asia’s gasoline crack ended the week with over 51% gains on hopes of incremental supplies from India, while easing omicron concerns boosted demand sentiment.

The refining profit margin surged to $12.55 a barrel on Friday, strongest since Nov. 9, from $11.59 in the last session.

The upside remained capped as U.S. gasoline stocks rose by 3.9 million barrels last week, compared with expectations for a 1.8

million-barrel rise.

India’s fuel consumption declined in November after scaling a seven-month peak last month, government data showed, as demand eased in the world’s third biggest oil consumer after the festival season. This could push the country to ship out excess gasoline.

Meanwhile, the naphtha crack in the region also rose as recovering prices of alternative cracker feedstock liquefied petroleum gas (LPG), renewed hopes of firm demand from petrochemical units. The crack climbed to $157.38 per tonne, up $1.08 from last close. Naphtha margins have gained over 11% this week.

Saudi Aramco has notified at least two North Asian buyers that it will supply full contractual volumes of crude oil in January, two sources with knowledge of the matter said on Friday.

Oil prices were on track for their biggest weekly gain since late August, with market sentiment buoyed by easing concerns over the Omicron coronavirus variant’s impact on global economic growth and fuel demand.

Comments

Comments are closed.