off-the-wire

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

Kitco Media
By Reuters
Published:
Updated:
Reuters
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)

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