Asia’s gasoline refining profit margin rose on Monday, as issues at gasoline-producing units at Malaysia’s PRefChem and at an African refinery supported prices, according to traders.

The crack traded at $10.71 per barrel over Brent crude, and the benchmark-grade of gasoline changed hands at $76 per barrel.

Malaysia’s Pengerang Refining Company shut both of its residual fluid catalytic cracking (RFCC) units last week, two sources familiar with the matter said, while it continued to offer residual fuel via tender.

The Johor-based refiner is trying to bring the units back online this week.

In the naphtha market, the backwardation between second-half November and second-half December prices was steady at $10 per ton.

NEWS

– The Rosneft-controlled Tuapse oil refinery in Russia’s southern Krasnodar region was targeted by Ukrainian drones overnight, causing a fire at a building for security staff which was quickly out, regional authorities said.
– Saudi Arabia, the world’s leading oil exporter, has left the official selling price of its flagship Arab Light crude to Asia unchanged, a day after OPEC+ agreed to a modest increase in oil production.

SINGAPORE CASH DEALS

Two gasoline deals, one naphtha trade.
Source: Reuters