off-the-wire

Asia Naphtha/Gasoline-Gasoline margin up slightly, Fujairah stocks fall

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, Feb 1 (Reuters) - Asia's gasoline markets inched higher on Wednesday as Fujairah stocks fell, but gains remained capped amid little buying interest at the Singapore window and a rise in U.S. stocks. The crack stood at $13 a barrel, up from $12.90 a barrel in the last session. At the Singapore trade window, there were two offers each for the benchmark 92-octange grade and the higher 95-octane grade of the fuel but there were no bids resulting in no deals, market participants said. A Singapore-based gasoline trader said that the correction in markets made sense as the "margin was seasonally too high."


TENDERS Kuwait's KPC, India's BPCL and Nayara Energy offered February-loading gasoline in export tenders keeping supplies ample in the markets, sources said. South Korea's GS Caltex sought March-delivery heavy full-range naphtha in a tender that closed on Jan. 31. INVENTORIES Light distillate stocks at the Fujairah commercial hub declined by 113,000 barrels to 6.976 million barrels in the week to Jan. 30, S&P Global Commodity Insights data showed. U.S. gasoline inventories rose by a bigger-than-expected 2.7 million barrels. SINGAPORE CASH DEALS One naphtha trade, no gasoline deals. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 710.50 14.50 2.08 696.00 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 703.25 14.25 2.07 689.00 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 7.25 0.25 3.57 7.00 <NAF-TYO-D IF> Naphtha Netback FOB 76.94 1.61 2.14 75.33 Sing
Naphtha Diff FOB 0.40 0.00 0.00 0.40 <NAF-SIN-D Sing IF> Naphtha-Brent Crack 65.88 3.25 5.19 62.63 <NAF-SIN-C RK> Gasoline 97 107.15 5.01 4.91 102.14 Gasoline 95 102.07 1.60 1.59 100.47 Gasoline 92 98.95 1.60 1.64 97.35 Gasoline crack 13.00 0.10 0.78 12.90 <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 Rashmi Aich)

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