off-the-wire

Asia Naphtha/Gasoline-Refining margins down despite lower stocks

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, March 3 (Reuters) - Asia's refining profit margins for gasoline and naphtha inched lower on Friday, even as stocks at the European trading hub declined. The naphtha crack fell by $2.02 to $103.08 a tonne, while the gasoline crack was down slightly at $10.43 a barrel. However, both markets are facing tight supplies, keeping sentiment bullish in the near-term, market participants said. In physical markets, a total of 100,000 barrels of gasoline changed hands, while there were no deals for naphtha. INVENTORIES Gasoline stocks at the ARA commercial hub were at 1.42 million tonnes in the week to March 2, down from 1.46 million tonnes in the prior week. Naphtha inventories were also down at 215,000 tonnes.


NEWS Oil prices dipped on Friday but were poised to register a weekly gain, with renewed optimism on China's demand recovery outweighing worries over recession, growing U.S. crude inventories and tightening monetary policy in Europe. PRICES LIGHT DISTILLATES
CASH ($/T) ASIA CLOSE Chang % Prev RIC e Change Close
OSN Naphtha CFR Japan 737.50 2.25 0.31 735.25 <NAF-1H-TYO M1 > OSN Naphtha CFR Japan 721.00 2.25 0.31 718.75 <NAF-2H-TYO M2 > OSN Naphtha Diff 16.50 0.00 0.00 16.50 <NAF-TYO-DI F> Naphtha Netback FOB 79.94 0.25 0.31 79.69 Sing
Naphtha Diff FOB Sing 0.40 0.00 0.00 0.40 <NAF-SIN-DI F> Naphtha-Brent Crack 103.08 -2.02 -1.92 105.10 <NAF-SIN-CR K> Gasoline 97 100.31 0.22 0.22 100.09 Gasoline 95 98.61 0.31 0.32 98.30 Gasoline 92 95.02 0.44 0.47 94.58 Gasoline crack 10.43 -0.13 -1.23 10.56 <GL92-SIN-C RK>
For a list of derivatives prices, including
margins, please double click the RICs below.
Brent M1 Naphtha CFR Japan M1 <NACFRJPSWMc


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Naphtha CFR Japan <NACFRJPSDMc
M1/M2 1>
Naphtha CFR Japan M2 <NACFRJPSWMc


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Naphtha Japan-Sing <NAPTC4SPDMc
Netback M1 1>
Naphtha Japan-Sing <NAPTC4SPDMc
Netback M2 2>
Naphtha FOB Sing M1 <NAFOBSGSWMc


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Naphtha FOB Sing M1/M2 <NAFOBSGSDMc


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Naphtha FOB Sing M2 <NAFOBSGSWMc


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Naphtha Cracks M1 <NACFRJPCKMc


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East-West Naphtha M1 East-West Naphtha M2 NWE Naphtha M1 <NAPCNWEAMc1


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NWE Naphtha M1/M2 <NAPCNWEASMc


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NWE Naphtha M2 <NAPCNWEAMc2


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Crack NWE <NAPCNWEACMc
Naphtha-Brent M1 1>
Crack NWE <NAPCNWEACMc
Naphtha-Brent M2 2>


(Reporting by Mohi Narayan; editing by Uttaresh Venkateshwaran)

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