off-the-wire

Asia Naphtha/Gasoline-Naphtha crack rises, gasoline falls

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, March 14 (Reuters) - Asia's naphtha refining profit margin rose on Tuesday, snapping a four-day losing streak, as crude oil benchmarks dropped by more than $1 on fears of a new financial crisis. The crack rose by $9.73 to $86.65 a tonne over Brent crude oil, and the backwardation in naphtha markets stood at $18.50 per tonne. At the Singapore trading window, there were no deals for naphtha for a fourth straight day. There were no trades for gasoline as well. The gasoline refining profit margin weakened by 40 cents to $12.32 a barrel over Brent crude. Meanwhile, China's gasoline exports were expected to be steady at between 300,000 tonnes and around 362,000 tonnes in March as domestic demand recovers, a Reuters survey showed. Last month's survey showed gasoline exports were likely to fall to eight-year lows in February. NEWS - India is not obligated to buy Russian oil at rates below the price cap imposed by the Group of Seven (G7) and other Western nations, an Indian oil ministry source told Reuters on Tuesday. - The Shanghai Cooperation Organisation (SCO) said on Tuesday that its members, including Russia, China and India, would consider jointly developing emerging fuel projects to connect countries emerging as major fuel producers and consumers. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 684.25 -15.25 -2.18 699.50 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 665.75 -15.25 -2.24 681.00 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 18.50 0.00 0.00 18.50 <NAF-TYO-D IF> Naphtha Netback FOB 74.03 -1.69 -2.23 75.72 Sing
Naphtha-Brent Crack 86.65 9.72 12.63 76.93 <NAF-SIN-C RK> Gasoline 97 100.74 -3.25 -3.13 103.99 Gasoline 95 98.72 -3.25 -3.19 101.97 Gasoline 92 92.00 -3.25 -3.41 95.25 Gasoline crack 12.32 0.08 0.65 12.24 <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)

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