Asia Naphtha/Gasoline-Gasoline crack rises, China supplies dwindle

NEW DELHI, March 28 (Reuters) - Asia's gasoline market gained on Tuesday amid persistently firm demand in the region, and lower supplies from key exporter China.

The crack hovered near an eight-month high for a third straight day at $19.12 a barrel over Brent crude oil. Gasoline margins have surged about 59% in March so far. Chinese exports could hit the lowest level since October this month at about 680,000 tonnes, down for the third consecutive month in 2023, ship tracking data from Kpler showed, as local fuel demand recovers from pandemic disruptions. In physical markets, there were no trades for both gasoline and naphtha for a second straight day. TENDERS Pakistan State Oil sought up to 1,000 tonnes of liquefied petroleum gas (LPG) for April 1-15 period in a tender that closes on April 5.

NEWS - Russia has successfully redirected all its crude oil exports affected by Western sanctions over Ukraine to "friendly" countries, Energy Minister Nikolai Shulginov said on Tuesday. - Crude prices firmed on Tuesday, extending sharp gains from the previous session amid supply disruption risks from Iraqi Kurdistan and hopes that turmoil in banking is being contained. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 671.00 12.75 1.94 658.25 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 660.00 12.75 1.97 647.25 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 11.00 0.00 0.00 11.00 <NAF-TYO-D IF> Naphtha Netback FOB 72.56 1.42 2.00 71.14 Sing
Naphtha-Brent Crack 81.65 -10.35 -11.25 92.00 <NAF-SIN-C RK> Gasoline 97 103.15 3.24 3.24 99.91 Gasoline 95 102.01 3.24 3.28 98.77 Gasoline 92 97.70 3.20 3.39 94.50 Gasoline crack 19.12 0.12 0.63 19.00 <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)

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 rises, China supplies dwindle

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