Aramco Trading Company (ATC) is handing back a number of gasoline storage tanks it leases at the UAE’s Fujairah storage hub, as well as at nearby Sohar in neighboring Oman. It’s not alone, with many players at storage hubs in the region also reducing their positions.
Gasoline markets have weakened markedly in key regions, with Sparta Commodities 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. (CONTINUED - 656 WORDS)
