Naphtha crack values extended gains in Asia as supply remained tight, holding at over five-month highs.

The refining margin climbed to more than $112 per metric ton on Monday, as continued curtailment of Russian supply buoyed sentiment.

The gasoline market also remained upbeat, with the product margin edging higher towards $12.70 a barrel.

Market participants continued to eye China’s upcoming export quotas, expected to be released this week.

NEWS

– China’s crude oil throughput in August rose 7.6% from a year earlier, official data showed on Monday, as state-owned refineries maintained high operating rates, according to consultancies.

– Group of Seven nations’ finance ministers discussed in a call on Friday further sanctions on Russia and possible tariffs on countries that they consider “enabling” its war in Ukraine, as the U.S. called on its allies to impose tariffs on purchasers of Russian oil.

SINGAPORE CASH DEALS

– No gasoline deal, no naphtha deal
Source: Reuters