off-the-wire

Asia Naphtha/Gasoline-Naphtha extends losses, gasoline rises

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, March 9 (Reuters) - Asia's naphtha refining profit margin fell for a second straight day on Thursday amid a lack of trades at the Singapore window, and a decline in prices of the light distillate. The naphtha crack weakened by $5.45 to $97.28 a tonne over Brent crude and the backwardation in the market stood at $18.50 per tonne. In physical markets, energy traders Vitol and PetroChina snapped up a total of 100,000 barrels of gasoline, while there were no deals for naphtha. Meanwhile, the gasoline crack rose by 15 cents to $13.37 a barrel over Brent crude as Singapore stocks declined to more than a two-month low. INVENTORIES Singapore's onshore stocks of light distillates dropped 1.593 million barrels to 15.552 million barrels in the week to March 8, according to Enterprise Singapore data. U.S. gasoline stocks fell by 1.1 million barrels in the week to 238.1 million barrels, and U.S. gasoline demand over the past four weeks fell 0.2% from a year ago, government data showed, while total product demand in the period slid 8.4%.


NEWS - Workers striking in protest against proposed changes to France's pension system continued to block fuel deliveries and reduce electricity production at several sites on Thursday. - Brazil's state-controlled oil company Petrobras PETR4.SA is in favor of dialogue first, then a fight if necessary on a recent tax imposed on crude exports from the South American country, the company's Chief Executive Officer Jean Paul Prates said on Wednesday. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 718.50 -8.00 -1.10 726.50 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 700.00 -8.00 -1.13 708.00 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 18.50 0.00 0.00 18.50 <NAF-TYO-D IF> Naphtha Netback FOB 77.83 -0.89 -1.13 78.72 Sing
Naphtha-Brent Crack 97.28 -5.45 -5.31 102.73 <NAF-SIN-C RK> Gasoline 97 104.95 3.09 3.03 101.86 Gasoline 95 103.12 3.09 3.09 100.03 Gasoline 92 96.20 -0.19 -0.20 96.39 Gasoline crack 13.37 0.15 1.13 13.22 <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 Sonia Cheema)

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