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,Q3 results will be very good as crack spread is manageable. Lots of refineries out of action due to Mid East War plus Hurricanes. Those with limited Capital can consider Call Wrts ,62 as it is the best with low Exercise Price, Low Conversion Ratio, and still few mths to Expiry. You only need small amt to reap benefit of higher price as it moves to Rm 5 and beyond.
Heng Yuan can sell own production from Brunei n M Sian waters to refinery at PD. Q 3, results should be good as they don't hedge like last time. incurring losses . After crossing Rm 4/, should cross Rm 5 soon. After results in Sept. price may go even higher !!!
Worldwide(Europe, Singapore & US)oil and diesel crack spreads increased over 6% yesterday & most definitely today. Furthermore, Crack Spread fees are in US$, which is at its highest level this year. That's why our Darling HengYuan flying
I just learned that: US, Israel & UK do not allow refineries in S Korea, Japan, Taiwan & Singapore to buy crude oil/feedstock from Russia & Iran. Wheres our beloved HengYuan can buy it anyway & whomever! Just imagine Shipping crude oil from Saudi all the way to S Korea, super expensive.
