off-the-wire

Asia Naphtha/Gasoline-Gasoline crack down slightly, sentiment positive

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, March 27 (Reuters) - Asia's gasoline refining profit margin inched lower on Monday, although it still hovered near eight-month highs touched last week on robust demand. The crack for gasoline was 15 cents down at $19 a barrel in absence of a deal at the Singapore window. "Global gasoline cracks will retreat in the coming weeks as crude recovers and the market adjusts to the impact of France strikes. That said, Asia gasoline cracks will remain supported by a stronger pull of gasoline and blendstocks to the West in May and June," analysts at FGE said in a note. Adding to the bullish sentiment, Australia's Ampol Ltd had to temporarily shut down one of its units in Queensland-based Lytton refinery to fix a technical issue with a slide valve, which will impact gasoline production. Meanwhile, the naphtha crack rose by $1.38 to $92 a tonne on Monday and the backwardation between first-half May and first-half June stood at $11 per tonne.


NEWS - Saudi Aramco's Jizan refinery is set to increase output of ultra-low sulphur diesel (ULSD) and reduce exports of vacuum gasoil (VGO) as it ramps up production in the second quarter, industry sources said. - Chinese private refiner Zhejiang Petrochemical has agreed to sell 1 billion shares in its trading arm, Rongsheng Petrochemical , to Saudi Arabian Oil Company's Unit, Rongsheng said on Monday. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 658.25 0.25 0.04 658.00 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 647.25 0.25 0.04 647.00 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 11.00 0.00 0.00 11.00 <NAF-TYO-D IF> Naphtha Netback FOB 71.14 0.03 0.04 71.11 Sing
Naphtha-Brent Crack 92.00 1.37 1.51 90.63 <NAF-SIN-C RK> Gasoline 97 99.91 -0.30 -0.30 100.21 Gasoline 95 98.77 -0.30 -0.30 99.07 Gasoline 92 94.50 -0.30 -0.32 94.80 Gasoline crack 19.00 -0.15 -0.78 19.15 <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 Rashmi Aich)

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