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According to foreign media news on June 14, the gasoline spread of Singapore's 95/9ron narrowed by 34 cents / day, and as of Wednesday the end of Asian trade was $1.
77 / barrel, the lowest
in five months.
The last low was on January 9, 2018, when the spread was $1.
67/b
.
Platts data shows that the 95/92 RON gasoline spread has been hovering between $2-3/b in the first half of 2018, averaging $2.
58/b
between January 2 and June 13.
Fundamentally, regional demand at 95 RON is relatively weak
compared to 92 RON.
That is why, although the demand for 92RON is also weak at the moment, what we are seeing is that the 95/92 spread is narrowing," said one Chinese trader
.
In addition, "all incremental production in the region is currently high-octane and refiners are looking to profit from high value-added gasoline pools," said a Singapore-based trader
.
"Coupled with more Chinese barrels, and good blended margins, China is producing more 95 RON,"
the source added.
12Next View full article
According to foreign media news on June 14, the gasoline spread of Singapore's 95/9ron narrowed by 34 cents / day, and as of Wednesday the end of Asian trade was $1.
77 / barrel, the lowest
in five months.
The last low was on January 9, 2018, when the spread was $1.
67/b
.
Platts data shows that the 95/92 RON gasoline spread has been hovering between $2-3/b in the first half of 2018, averaging $2.
58/b
between January 2 and June 13.
Fundamentally, regional demand at 95 RON is relatively weak
compared to 92 RON.
That is why, although the demand for 92RON is also weak at the moment, what we are seeing is that the 95/92 spread is narrowing," said one Chinese trader
.
In addition, "all incremental production in the region is currently high-octane and refiners are looking to profit from high value-added gasoline pools," said a Singapore-based trader
.
"Coupled with more Chinese barrels, and good blended margins, China is producing more 95 RON,"
the source added.
12Next View full article
12Next View full article
