Asia Naphtha/Gasoline-Cracks rise over crude weakness, tight supplies

NEW DELHI, March 6 (Reuters) - Asia's naphtha and gasoline margins rose on Monday amid weakness in crude oil benchmarks and persistent tightness in supplies. The naphtha refining profit margin rose by about $6 to $109.13 a tonne, while the gasoline crack gained 41 cents at $10.84 a barrel over Brent crude oil. In physical markets, energy trader Unipec bought 50,000 barrels of the benchmark grade gasoline. There were no deals for naphtha for a fourth consecutive trading day at the Singapore window. "There is an air of positivity surrounding downstream demand as the ethylene-naphtha spread widened marginally week-on-week to just over $230 per tonne," consultancy FGE said in a note.

TENDERS Sri Lanka's Ceypetco has sought a rare 140,000 barrels of naphtha for March 28-29 delivery in tender that closes on Wednesday and is valid for 72 hours. Vietnam's Petrolimex also sought gasoline supplies for delivery in March, market sources said.

NEWS - Indonesia's state energy company Pertamina said on Friday its fuel supply remained secure after a fire at its storage station in Jakarta. A spokesperson also told Reuters the company planned to divert the fuel supply for Jakarta from other terminals. - Russian oil firm Rosneft's Chief Executive Igor Sechin met with Cuba's President Miguel Diaz-Canel late on Saturday, the island's leader said, amid an acute fuel shortage that has service stations temporarily shuttered and hours-long gasoline queues. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 750.75 13.25 1.80 737.50 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 734.25 13.25 1.84 721.00 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 16.50 0.00 0.00 16.50 <NAF-TYO-D IF> Naphtha Netback FOB 81.42 1.48 1.85 79.94 Sing
Naphtha-Brent Crack 109.13 6.05 5.87 103.08 <NAF-SIN-C RK> Gasoline 97 101.68 1.37 1.37 100.31 Gasoline 95 99.98 1.37 1.39 98.61 Gasoline 92 96.39 1.37 1.44 95.02 Gasoline crack 10.84 0.41 3.93 10.43 <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 Shailesh Kuber)

Reuters

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Asia Naphtha/Gasoline-Cracks rise over crude weakness, tight supplies

By Reuters

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