Asia 5-3-2 crack

The 5-3-2 crack is a shorthand measure of a refinery's theoretical operating margin. It reflects what a refiner in Asia can expect to make when comparing production yields along with the relative strength of crude oil prices and refined transport fuels. It is calculated by taking five barrels of Quantum's Brent cash assessment for two months ahead and subtracting the sum of three barrels of the Singapore 92 RON gasoline swap for two months ahead and two barrels of the gasoil 10ppm swap.