Middle East gasoline traders feel pinch of falling margins

Cross Barrel Crude Distillate Freight Fuel Oil Gasoline Jet Naphtha

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Published01 NOV 24 - 16:21 Reading time minutes

“Gasoline markets have weakened markedly in key regions, with Sparta noting that prompt prices in Singapore have fallen into a discount to those for delivery out to mid-2025, “followed closely by a bearish Europe.” The market looks set to trend lower, they add.

MEES, November 1, 2024 – Sparta noted a weakening gasoline market with prompt Singapore prices discounted against mid-2025 deliveries, alongside a bearish European trend. This has prompted Aramco Trading Company and other firms like Litasco, BP, and Montfort to reduce storage in Fujairah and Sohar, while potentially benefiting companies like Reliance aiming to expand in the region.

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Sparta

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