saudi aramco continues buying gasoline
Last Updated : GMT 02:43:09
Arab Today, arab today
Arab Today, arab today

Saudi Aramco continues buying gasoline

Arab Today, arab today

Arab Today, arab today Saudi Aramco continues buying gasoline

Dubai - Arastoday

Gasoline premiums in the Gulf firmed this week as Saudi Aramco continued its purchases and cracks rising in the Asian market supported the sentiment, traders said yesterday. \"The market\'s been improving for some time,\" one gasoline trader said. He pegged premiums for 95 RON gasoline at around $120 (Dh440) a tonne over benchmark Middle East naphtha quotes. Another trader said they were around $115 a tonne, versus last week\'s range of $110-$115 a tonne. Saudi Aramco has been among the major buyers in the gasoline market, as the state oil giant has ramped up purchases with the rising summer demand and as it aims to stock up ahead of Ramadan, which is due to start at the beginning of August. Article continues below \"They\'re buying regularly and they\'re buying everything; gasoline, gas oil,\" one trader said. Traders said Aramco\'s purchases for June delivery amounted to 16 cargoes, and was expected to hit similar numbers for July delivery. Buying back The partial shutdown of Saudi-based PetroRabigh\'s refinery maintenance has also increased Aramco\'s purchases, traders have said. Pakistan has been buying regularly due to its back to back refinery outages, traders said, helping lift the demand. Pakistan was also selling naphtha, where sentiment remained sour since around mid-May due to ballooning supplies and weaker Taiwanese demand after Formosa shut a cracker indefinitely following a pipeline fire on May 12. Attock Refinery Ltd and National Refinery Ltd have sold a total of 28,000 tonnes of July naphtha to Vitol through private negotiations, traders said on Wednesday. Traders said Gunvor lifted some cargoes from a Tasweeq tender to sell 1.5 million barrels of gasoline between July to December, with prices ranging between 80 cents to $1 a discount to MOPS. But the prices and the buyer had not been independently confirmed. Gasoline cracks recovered to a two-session high, with India\'s BPCL seeking at least another 30,000 tonnes for July delivery after having bought a total of 60,000 tonnes. Summer demand Low sulphur premiums looked sluggish with summer demand remaining below market expectations, traders said. \"There\'s regular demand from East Africa, but not much spot demand coming in,\" one distillates trader said, citing low sulphur gas oil premiums, also known as 500 ppm at $2.50 to $3 barrel, compared with $3 barrel. Another trader said fuel retailer Emarat was seeking 30,000 tonnes of gas oil in a tender for prompt delivery in early July. It was not immediately confirmed. Saudi Aramco has also been buying gas oil, another trader said, estimating that the state oil company was purchasing around 1-2 cargoes a week. Bunker premiums in Fujairah were under pressure, traders said. Pakistan was expected to award its latest fuel oil import tender, and premiums were aggresive, traders said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi aramco continues buying gasoline saudi aramco continues buying gasoline

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi aramco continues buying gasoline saudi aramco continues buying gasoline

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday