off-the-wire

Asia Naphtha/Gasoline-Gasoline crack at over 8-month high, gains about 27% on week

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, March 24 (Reuters) - Asia's gasoline refining profit margin climbed to a more than eight-month high on Friday and gained nearly 27% this week on the back of healthy demand regionally and from Mexico. The crack jumped to $19.15 a barrel over Brent crude, the highest since July 2022, compared with $17.65 a barrel a day earlier. About 1.7 million barrels of gasoline have reached Mexican ports from East of Suez markets in March, ship tracking data from Kpler showed. In physical markets, a total of 300,000 barrels of benchmark grade of gasoline changed hands this week, and 25,000 tonnes of naphtha were traded, market participants said.


INVENTORIES Amsterdam-Rotterdam-Antwerp (ARA) gasoline stocks rose by 6% to 1.442 million tonnes as exports to the United States were lower and there were high flows of naphtha into the gasoline blending pool, Insights Global data showed. Naphtha stocks rose to 253,000 tonnes in the week from 244,000 tonnes, the data showed. NEWS - Maersk and Shanghai International Port Group 600018.SS have signed a memorandum of understanding for a green methanol marine fuel project in the Shanghai port, the shipping group said on Friday. - The Kremlin on Friday said it was important to identify an object discovered next to one of the Nord Stream pipelines, and said the ongoing investigation into blasts that struck the pipelines last September must be conducted with full transparency. SINGAPORE CASH DEALS One gasoline trade, no naphtha deals. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 658.00 0.50 0.08 657.50 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 647.00 2.50 0.39 644.50 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 11.00 -2.00 -15.38 13.00 <NAF-TYO-D IF> Naphtha Netback FOB 71.11 0.05 0.07 71.06 Sing
Naphtha-Brent Crack 90.63 5.23 6.12 85.40 <NAF-SIN-C RK> Gasoline 97 100.21 0.86 0.87 99.35 Gasoline 95 99.07 0.87 0.89 98.20 Gasoline 92 94.80 0.87 0.93 93.93 Gasoline crack 19.15 1.50 8.50 17.65 <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 Maju Samuel)

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