off-the-wire

Asia Naphtha/Gasoline-Gasoline crack slips, naphtha rises

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, March 21 (Reuters) - Asia's gasoline crack eased slightly on Tuesday after crude oil benchmarks recovered from 15-month lows, although the downside was limited by strong seasonal demand for the fuel. The refining profit margin for gasoline was down 10 cents at $16.18 a barrel over Brent crude oil. "We expect that 92-octane cracks will stay supported by reduced Chinese exports and growing outages in the region, but note that Atlantic basin balances are yet to tighten relative to the East towards summer," consultancy Energy Aspects said in a report. Meanwhile, the naphtha crack rose by $4.72 to $78.82 a tonne over Brent crude on Tuesday and the first-half May naphtha traded $16.25 per tonne higher than the following month. NEWS - OPEC Secretary-General Haitham al-Ghais said the group's agreement to reduce production has helped address challenges facing global oil markets, Iraq's oil ministry quoted him as saying on Tuesday. - Several French refinery sites were still blocked from delivering products after two weeks of strikes in France, causing production to be disrupted while the government requisitions workers at the Fos refinery, and power supply was also disrupted. SINGAPORE CASH DEALS No gasoline trades, no naphtha deals. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 634.50 33.00 5.49 601.50 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 618.25 32.75 5.59 585.50 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 16.25 0.25 1.56 16.00 <NAF-TYO-D IF> Naphtha Netback FOB 68.50 3.67 5.66 64.83 Sing
Naphtha-Brent Crack 78.82 4.72 6.37 74.10 <NAF-SIN-C RK> Gasoline 97 95.69 0.36 0.38 95.33 Gasoline 95 94.54 1.22 1.31 93.32 Gasoline 92 90.27 3.67 4.24 86.60 Gasoline crack 16.18 -0.10 -0.61 16.28 <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 Eileen Soreng)

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