Asia’s naphtha refining profit margin was up slightly on Monday amid thin window activity, while the underlying prices for the product were broadly unchanged.

The crack rose to $101.73 per metric ton over Brent crude, compared with $99.88 in the previous session.

The gasoline refining profit margin traded unchanged but firm above $12 per barrel over Brent crude.

Analysts and traders said gasoline markets are looking tight in the short term with Dangote supplies down and maintenance in key trading regions, while demand has been faring well.

NEWS

– The spot supply of Russian oil has not changed from earlier, with barrels trading at a discount of $2-$3 per barrel to Dubai for delivery at Indian ports, said Anuj Jain, head of finance at Indian Oil Corp, the country’s top refiner.
– New sanctions on buyers of Russian oil could disrupt crude flows, energy trader Gunvor’s GGL.UL global head of research and analysis, Frederic Lasserre, said on Monday.

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Source: Reuters