SINGAPORE: Asia’s Naphtha refining profit margin rose on Tuesday after falling nearly 24% last week on demand concerns, as crude prices dropped.
The crack rose to $111.58 a tonne from $86.45 in the previous session.
Gasoline crack eased to $25.12 per barrel, down from $26.85 in the previous session, after rising 17.7% last week, supported by expectations of stronger demand as peak summer driving season draws near.
US crude oil inventories likely fell last week, while distillate and gasoline stockpiles were also seen down, a preliminary Reuters poll showed on Monday.
Retail gasoline prices in the United States rose on Tuesday and hit another all-time record, surpassing one set in March, as global refineries grappled with a bottleneck that has sent prices soaring ahead of driving season.