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Margins Weaken in Asia

Refinery Margins Report for the week ending 06 February
Published: February 9, 2026
Written by:
Giovanni Simonetti

Giovanni Simonetti

Junior Data Analyst, Flux
Giovanni Simonetti
Reviewed by:
Harinder Sandhu

Harinder Sandhu

Quantitative Research Associate, Flux
Harinder Sandhu
11 page report
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In the week ending 30 January, Refinery Margins rose in Europe and the US, but fell in Asia. European M1 Margins up to $6.73/bbl (+$0.65/bbl w/w), US Margins up to $16.08/bbl (+$1.89/bbl w/w), and Asian M1 Margins down to $9.49/bbl (-$1.29/bbl w/w).

  • Asian margins were weak: Sing Gasoil cracks fell by -$1.75/bbl w/w, Dubai Cracks  saw more weakness: Gasoil Dubai Cracks fell by -$4.82/bbl, and Kero Dubai Cracks fell by -$2.12/bbl. w/w.
  • In Europe, Gasoil Crack was the biggest mover, falling by -$2.17/bbl w/w, however EBOB and 3.5 Bgs cracks saw some strength, rising by +$1.03/bbl, and +$1.07/bbl respectively.

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