off-the-wire

Asia Naphtha/Gasoline-Naphtha crack posts weekly loss, gasoline rises

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, Feb 10 (Reuters) - Asia's naphtha markets weakened by more than 18% this week amid a rise in crude oil benchmarks, although South Korean spot buying limited losses. The naphtha crack slipped by $5.85 to $77.07 a tonne on Friday, and the backwardation stood at $11 a tonne.


South Korean buyers YNCC and Hanwha TotalEnergies emerged this week for second-half March delivery naphtha, while India's state-run HMEL issued a buy tender for March-April delivery naphtha, market sources said. Gasoline markets, on the other hand, gained nearly 10% this week amid strong domestic demand in China. China's February gasoline exports may fall a second straight month to hit their lowest in eight years as domestic consumption rebounds after the nation emerged from COVID lockdowns, industry and market sources said. Separately, India's Nayara Energy closed a tender to sell 58,000-60,000 tonnes of benchmark grade gasoline for delivery during March 1-5. NEWS - Russia will cut oil production by 500,000 barrels per day, or around 5% of output, in March, Deputy Prime Minister Alexander Novak said on Friday. - European banks risk jeopardising the path to net-zero carbon emissions and the growth of renewable energy unless they stop directly financing new oil and gas fields this year, investors managing assets worth more than $1.5 trillion said on Friday. SINGAPORE CASH DEALS No trades. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 716.75 -5.25 -0.73 722.00 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 705.75 -5.25 -0.74 711.00 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 11.00 0.00 0.00 11.00 <NAF-TYO-D IF> Naphtha Netback FOB 77.64 -0.58 -0.74 78.22 Sing
Naphtha-Brent Crack 77.07 -5.86 -7.07 82.93 <NAF-SIN-C RK> Gasoline 97 103.31 0.14 0.14 103.17 Gasoline 95 101.68 0.18 0.18 101.50 Gasoline 92 98.73 0.18 0.18 98.55 Gasoline crack 13.44 0.10 0.75 13.34 <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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