Gasoline trade also remained subdued with withdrawals from both buyer and
seller sides. The crack for gasoline trended upwards at $11.58 a barrel on Friday, but
posted a small weekly loss of 3%. NEWS
- Oil prices extended gains for a second session on Friday as the
prospects of lower exports from Russia offset rising inventories in the United
States and concerns over global economic activity. - Kuwait is set to ramp up refined oil product exports from its new Al
Zour refinery in the second half of 2023 to plug Russian shortfalls in Europe
and meet growing demand in Asia and Africa, industry sources and analysts
said. - Companies in Singapore will have to consider and manage any potential
impact on their business activities, transactions, and customer relationships
when dealing with Russian crude oil and refined products, a government
official said on Friday. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC
Change Close
OSN Naphtha CFR 736.50 14.25 1.97 722.25 <NAF-1H-TY
Japan M1 O>
OSN Naphtha CFR 717.00 14.25 2.03 702.75 <NAF-2H-TY
Japan M2 O>
OSN Naphtha Diff 19.50 0.00 0.00 19.50 <NAF-TYO-D
IF>
Naphtha Netback FOB 79.83 1.58 2.02 78.25 Sing
Naphtha-Brent Crack 112.43 -1.65 -1.45 114.08 <NAF-SIN-C
RK>
Gasoline 97 100.00 3.07 3.17 96.93 Gasoline 95 98.21 2.46 2.57 95.75 Gasoline 92 94.79 2.34 2.53 92.45 Gasoline crack 11.58 0.22 1.94 11.36 <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 NWE Naphtha M1 NWE Naphtha M1/M2 NWE Naphtha M2 Crack NWE Naphtha-Brent M1
Crack NWE Naphtha-Brent M2
*Sing refers to
Singapore
(Reporting by Mohi Narayan; Editing by Sherry Jacob-Phillips)
NEW DELHI, Feb 24 (Reuters) - Asia's naphtha markets posted a weekly
gain of about 11% amid tight supplies from the West this month, although
rising inventories at key trading hubs capped the upside.
The refining profit margin for naphtha inched lower by $1.65 to $112.43 a
tonne on Friday. In physical markets, there were two bids for second-half April cargo and
an offer for first-half May parcel, resulting in no deals for a third straight
day.
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