NEW DELHI, Feb 22 (Reuters) - Asia's gasoline refining profit margin
declined on Wednesday as Fujairah inventories swelled, although sentiment
remained positive amid lower shipments from China and robust demand from
Indonesia, traders said.
The crack slipped to $11.94 a barrel over Brent crude, compared with
$13.16 a barrel a day earlier. The naphtha crack, on the other hand, rose by $3.60 to $119.05 a tonne in
anticipation of lower arbitrage supplies from the West this month. "Overall arbitrage flows should remain in the 1 million-1.5 million tonnes
range, assuming that re-exports of Russian naphtha through Fujairah,
Singapore/Malaysia continue, and increase, with the EU sanction now in force,"
consultancy FGE said in a note.
Asia typically gets 2 million tonnes of naphtha per month.
INVENTORIES
Light distillates stocks at the Fujairah commercial hub rose 1.049 million
barrels to 8.233 million barrels in the week ended Feb. 20, S&P Global
Commodity Insights data showed. SINGAPORE CASH DEALS Two gasoline trades, no naphtha deals.
PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC
Change Close
OSN Naphtha CFR 736.75 -6.75 -0.91 743.50 <NAF-1H-TY
Japan M1 O>
OSN Naphtha CFR 717.25 -6.75 -0.93 724.00 <NAF-2H-TY
Japan M2 O>
OSN Naphtha Diff 19.50 0.00 0.00 19.50 <NAF-TYO-D
IF>
Naphtha Netback FOB 79.86 -0.75 -0.93 80.61 Sing
Naphtha-Brent Crack 119.05 3.60 3.12 115.45 <NAF-SIN-C
RK>
Gasoline 97 98.78 -2.60 -2.56 101.38 Gasoline 95 97.60 -2.60 -2.59 100.20 Gasoline 92 94.30 -2.60 -2.68 96.90 Gasoline crack 11.94 -1.22 -9.27 13.16 <GL92-SIN-
CRK>
For a list of derivatives prices, including margins,
please double click the RICs below.
Brent M1 Naphtha CFR Japan M1 Naphtha CFR Japan M1/M2
Naphtha CFR Japan M2 Naphtha Japan-Sing Netback M1
Naphtha Japan-Sing Netback M2
Naphtha FOB Sing M1 Naphtha FOB Sing M1/M2
Naphtha FOB Sing M2 Naphtha Cracks M1 East-West Naphtha M1 East-West Naphtha M2 NEW Naphtha M1 NEW Naphtha M1/M2 NEW Naphtha M2 Crack NEW Naphtha-Brent M1
Crack NEW Naphtha-Brent M2
*Sing refers to
Singapore
(Reporting by Mohi Narayan; Editing by Sherry Jacob-Phillips)
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