Asia Naphtha/Gasoline-Naphtha crack rises as Brent falls

NEW DELHI, Jan 30 (Reuters) - Asia's naphtha refining profit margin rose on Monday after two straight sessions of losses amid weakness in crude oil prices. The crack climbed by $3.08 to $61.13 a tonne over Brent crude and the backwardation stood at $7 per tonne. At the Singapore window, energy trader Equinor bought 25,000 tonnes of first-half April naphtha and there were two offers for first-half March cargo. Meanwhile, total naphtha arrivals into Asia were down by 4% to about 6.6 million tonnes in January, assessments by Refinitiv Oil Research showed.

On the demand side, sentiment has been week because at least two petrochemical operators in North Asia have extended shutdowns at their crackers "to cope with the losses", Refinitiv Oil Research's senior analyst Krystal Chung said in a note.

NEWS - Oil fell on Monday, giving up earlier gains, as looming interest rate hikes by major central banks and signs of strong Russian exports offset rising Middle East tension over a drone attack in Iran and hopes of higher Chinese demand. - Saudi Arabia, the world's largest oil exporter, may trim prices for crude grades sold to Asia for a fourth straight month in March, amid low physical oil premiums, as oversupply worries linger despite expectations of demand recovery in China. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 705.00 -12.00 -1.67 717.00 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 698.00 -12.00 -1.69 710.00 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 7.00 0.00 0.00 7.00 <NAF-TYO-D IF> Naphtha Netback FOB 76.33 -1.34 -1.73 77.67 Sing
Naphtha Diff FOB 0.40 0.00 0.00 0.40 <NAF-SIN-D Sing IF> Naphtha-Brent Crack 61.13 3.08 5.31 58.05 <NAF-SIN-C RK> Gasoline 97 105.58 -2.21 -2.05 107.79 Gasoline 95 103.91 -2.21 -2.08 106.12 Gasoline 92 100.79 -2.21 -2.15 103.00 Gasoline crack 14.94 -0.20 -1.32 15.14 <GL92-SIN- CRK>
For a list of derivatives prices, including
margins, please double click the RICs below.
Brent M1 <BRENTSGMc

1>
Naphtha CFR Japan M1 <NACFRJPSW

Mc1>
Naphtha CFR Japan <NACFRJPSD
M1/M2 Mc1>
Naphtha CFR Japan M2 <NACFRJPSW

Mc2>
Naphtha Japan-Sing <NAPTC4SPD
Netback M1 Mc1>
Naphtha Japan-Sing <NAPTC4SPD
Netback M2 Mc2>
Naphtha FOB Sing M1 <NAFOBSGSW

Mc1>
Naphtha FOB Sing <NAFOBSGSD
M1/M2 Mc1>
Naphtha FOB Sing M2 <NAFOBSGSW

Mc2>
Naphtha Cracks M1 <NACFRJPCK

Mc1>
East-West Naphtha M1 <NAPJPEWMc

1>
East-West Naphtha M2 <NAPJPEWMc

2>
NWE Naphtha M1 <NAPCNWEAM

c1>
NWE Naphtha M1/M2 <NAPCNWEAS

Mc1>
NWE Naphtha M2 <NAPCNWEAM

c2>
Crack NWE <NAPCNWEAC
Naphtha-Brent M1 Mc1>
Crack NWE <NAPCNWEAC
Naphtha-Brent M2 Mc2>

*Sing refers to
Singapore
(Reporting by Mohi Narayan Editing by Vinay Dwivedi)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

Asia Naphtha/Gasoline-Naphtha crack rises as Brent falls

By Reuters

Reuters

Reuters

Solid price gains for gold, silver after busy news weekend

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Silver prices breach $32/oz as bullish technicals and fundamentals suggest potential breakout