NEW DELHI: Asia’s gasoline crack continued to climb on Monday after crude oil benchmarks weakened, although gains were capped by fuel demand worries in China.
The crack rose to $14.52 a barrel from $13.88 a barrel in the last session. Gasoline margins posted gains of more than 30% last week amid inventory drawdowns at key trading hubs.
In a sign of overall concern about the Chinese economy, Beijing cut its benchmark lending rate and lowered the mortgage reference by a bigger margin to revive an economy hobbled by a property crisis and a resurgence of COVID cases.
Meanwhile, the naphtha crack in the region extended losses amid muted trading at the Singapore window.
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