Asian gasoline gets a lift from demand, refinery maintenance
Updated : February 27, 2019 01:10 PM IST
The spread typically trades at a premium to Brent but fell to a discount to the benchmark crude at the end of 2018 because of a supply glut of gasoline in Asia.
Elections and lower fuel prices could be among the reasons behind the additional demand, said four traders who participate in the market, who added that Indonesia's March gasoline imports could reach up to 12 million barrels versus a monthly average of 10 million barrels.
Pertamina is also seeking up to 250,000 barrels per month of 88-octane gasoline for April to June delivery in a tender that closed on February 25 and will be awarded after March 1, according to the tender documents.
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