Asia’s gasoline refining profit margin eased on Monday after rallying more than 60% last week due to outages, low inventories and firm regional demand.

The crack traded at $15.91 per barrel over Brent crude, compared with $17.71 in the previous session.

In tenders, a Taiwanese seller was heard to have offered two cargoes of benchmark-grade of gasoline for mid-December loading, market participants said.

The region’s naphtha refining profit margin also declined on Monday on concerns about oil loadings from Russia’s Novorossiysk port resuming after a two-day suspension triggered by a Ukrainian missile and drone attack.

The crack plunged to about $97 per metric ton over Brent crude, compared with $105.08 on Friday in backwardation price structure.

NEWS

– Indonesian state energy firm PT Pertamina’s 2025 oil and gas production is estimated at 1.03 million barrels of oil equivalent per day, according to chief executive Simon Mantiri. That is roughly stable compared to output in 2024, company data presented at a parliamentary hearing showed.
– Indonesia’s Chandra Asri Pacific said it has secured a bespoke $750 million financing package from investment firm KKR to support its purchase of ExxonMobil’s Esso-branded retail fuel station network in Singapore.

SINGAPORE CASH DEALS

One gasoline trade.
Source: Reuters