Asia Naphtha/Gasoline-Gasoline crack at over two-month high on firm demand

NEW DELHI, March 20 (Reuters) - Asia's gasoline refining profit margin climbed to the highest since Jan. 26 on Monday as firm demand for the fuel's benchmark grade at the Singapore window lifted sentiment amid expectations of tight supplies from India, traders said. The crack jumped to $16.28 a barrel, compared with $15.10 a barrel on Friday. India plans to extend restrictions on the export of diesel and gasoline after the current fiscal year ends this month to ensure the availability of refined fuels for the domestic market, two government sources with direct knowledge of the matter said. This move by India will extend support to Asian cracks, a Singapore-based gasoline trader said. Meanwhile, another key exporter, China, supplied 20% more gasoline in January and February than a year earlier, customs data showed on Saturday, after Beijing raised fuel export quotas to spur refinery output. "China's gasoline exports remain around 200,000 barrels per day in March, but we expect this to rise in April and May as pressure to fully utilize export quotas mounts," consultancy FGE said in a note. In physical markets, 150,000 barrels of benchmark-grade of motor fuel changed hands, while trade remained muted for naphtha. REFINERY NEWS - Sinopec's 600028.SS Luoyang refinery will shut down its whole plant for a 54-days planned maintenance, starting from May 15, according to a statement from a Sinopec engineering firm that will participate in the overhaul. - China's state-owned refiner China National Petroleum Corporation (CNPC) will start maintenance at its Changqing refinery from April 1, according to a statement from a CNPC engineering firm that will participate in the overhaul. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 601.50 -42.00 -6.53 643.50 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 585.50 -42.00 -6.69 627.50 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 16.00 0.00 0.00 16.00 <NAF-TYO-D IF> Naphtha Netback FOB 64.83 -4.67 -6.72 69.50 Sing
Naphtha-Brent Crack 74.10 -3.90 -5.00 78.00 <NAF-SIN-C RK> Gasoline 97 95.33 -3.91 -3.94 99.24 Gasoline 95 93.32 -3.90 -4.01 97.22 Gasoline 92 86.60 -3.90 -4.31 90.50 Gasoline crack 16.28 1.18 7.81 15.10 <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)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

Asia Naphtha/Gasoline-Gasoline crack at over two-month high on firm demand

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio