off-the-wire

Asia Naphtha/Gasoline-Margins rise for second straight day

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, March 7 (Reuters) - Asia's gasoline refining profit margin extended gains on Tuesday after a series of deals at the Singapore window lifted market sentiment. The crack climbed to a two-week high of $13.52 a barrel from $10.84 a barrel a day earlier. Gasoline margins have risen nearly 13% this month amid robust demand from Indonesia ahead of Ramadan and hopes of tight supplies from key supplier China as domestic consumption picks up. The naphtha crack also rose 77 cents to $109.90 a tonne over Brent crude on Tuesday. In physical markets, a total of 150,000 barrels of gasoline changed hands, of which energy trader Vitol snapped up 100,000 barrels and Unipec bought 50,000 barrels, market participants said. Meanwhile, Japan's biggest refiner, Eneos Corp, has shut the 129,000 barrels-per-day crude distillation unit (CDU) at its Chiba refinery on Monday for scheduled maintenance, a company spokesperson said on Tuesday. The refiner, a unit of Eneos Holdings Inc , expects to restart the unit in Chiba, near Tokyo, in late April, she said.


NEWS - Russian ultra-low-sulphur diesel (ULSD) diesel shipments to Brazil hit a record high in February, while Moscow is exploring new markets following the European Union ban, according to traders and Refinitiv data. - Rosneft's Komsomolsky oil refinery in Russia's Far East will stop selling gasoline and diesel starting from March 9 on a commodity exchange due to maintenance, traders said on Monday, amid the country's plans to reduce its crude oil output.
PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 755.50 4.75 0.63 750.75 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 737.50 3.25 0.44 734.25 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 18.00 1.50 9.09 16.50 <NAF-TYO-D IF> Naphtha Netback FOB 81.94 0.52 0.64 81.42 Sing
Naphtha-Brent Crack 109.90 0.77 0.71 109.13 <NAF-SIN-C RK> Gasoline 97 104.89 3.21 3.16 101.68 Gasoline 95 103.20 3.22 3.22 99.98 Gasoline 92 99.60 3.21 3.33 96.39 Gasoline crack 13.52 2.68 24.72 10.84 <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 Shilpi Majumdar)

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