Gasoline:Arbitrage from Asia to Persian Gulf open

摘要

High Mediterranean gasoline prices and an overhang of supply in Asia is keeping the arbitrage window from Asia to the Persian Gulf wide open,trading sources said last week.To date,two to three long-range 1 vessels,each 50,000 to 55,000 mt in size,of gasoline were fixed for June loading from Taiwan and China to the Persian Gulf-drawn by strong demand mainly from Iran and to a certain extent,Saudi Arabia.And arbitrage economics should remain wide open for July-loading cargoes from Asia,despite highly volatile Persian Gulf gasoline premiums that have swung wildly from the 70's/mt to nearly 100/mt over the Mean of Platts Arab Gulf naphtha assessments,for 95 RON gasoline because of sharp fluctuations in naphtha prices,traders said.