NEW DELHI: Asia’s gasoline crack inched higher on Wednesday as Middle East inventories fell after rising for two consecutive weeks.
The refining profit margins rose to $12.64 per barrel, up 19 cents, and have seen a more than 62% rise since the beginning of this month on hopes of a recovery in consumption in the region.
Stocks of light distillates at Fujairah Oil Industry Zone, including gasoline and naphtha, fell 192,000 barrels for the week to 4.205 million barrels, according to industry information service S&P Global Platts.
Meanwhile, the naphtha crack eased after a decline in crude oil benchmarks brought prices lower. The margin slipped to $163.40 per tonne from $164.63 in the previous session.
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