The FOB Singapore benchmark price of gasoline octane booster MTBE shot up $29.5/mt to $777/mt Monday, pushed up by strong increases in global crude oil benchmarks and gasoline prices. September NYMEX crude leaped up $4.94 from last Friday's Asian settlement price to settle at $70.53/barrel in Asian trade Monday. Similarly, Asian gasoline prices rose about $3 over the same period. However, the 97-92 RON spread shrunk marginally, by 10 cents to $6/barrel, due to a slightly weaker increase in 97 RON compared with the two lower RON values. The MTBE market appeared quiet during the day, despite the leap in price, with no bids or offers made during the Platts Market on Close assessment process.
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