Asia’s gasoline crack rises

NEW DELHI: Asia’s gasoline crack gained for a second straight session on Wednesday on hopes of a weekly decline in US inventories, while a series of trades on the window lifted prices for the benchmark 92-octane grade.

The crack climbed to $7.72 a barrel from $7.36 in the last session.

In physical markets, demand for both higher and benchmark grades remained firm. There were six gasoline trades. Vitol purchased three cargoes of the benchmark grade, while Total bought the remaining three 95-octane grade.

By contrast, naphtha crack in the region eased from five-week highs after data showed a 1.2% increase in stockpiles at the Fujairah Oil Industry Zone. The crack fell to $139.90 a tonne from $141.43 in the previous session.