off-the-wire

Asia Naphtha/Gasoline-Naphtha margin rises to highest in a week

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, Feb 14 (Reuters) - Asia's naphtha refining profit margin climbed to a one-week high on Tuesday amid a weakness in Brent crude benchmarks. The crack jumped to $92.40 a tonne, the highest since Feb. 6, compared with $88.88 a tonne in the previous session.


The backwardation in naphtha markets narrowed to $8.50 per tonne from $12 a day earlier. At the physical trading window, energy trader Sietco purchased first-half April naphtha. Trafigura and Vitol bought 50,000 tonnes of gasoline each for March delivery. Gasoline markets softened by $1.28 to $12.42 a barrel on Tuesday. TENDERS India's MRPL offered 35,000 tonnes of 95-octane grade gasoline and 25,000 tonnes of reformate for delivery in March, the refiner said in a tender document. The tender closes on Wednesday with same-day validity. NEWS - Oil prices fell on Tuesday after the U.S. government said it would release more crude from its Strategic Petroleum Reserve (SPR) as mandated by lawmakers, counter to expectations from some traders that the release could be cancelled or delayed. - Seaborne supplies of Urals crude bound for China in January rose to about 230,000 barrels per day (bpd), the highest level since June 2022, as demand for the grade from the world's largest oil importer shows early signs of rebound, traders said and Refinitiv Eikon data showed. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 738.75 7.50 1.03 731.25 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 730.25 11.50 1.60 718.75 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 8.50 -4.00 -32.00 12.50 <NAF-TYO-D IF> Naphtha Netback FOB 80.08 0.83 1.05 79.25 Sing
Naphtha-Brent Crack 92.40 3.52 3.96 88.88 <NAF-SIN-C RK> Gasoline 97 103.18 -0.75 -0.72 103.93 Gasoline 95 102.10 -0.20 -0.20 102.30 Gasoline 92 98.60 -0.75 -0.75 99.35 Gasoline crack 12.42 -1.28 -9.34 13.70 <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 Sohini Goswami)

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