Asia Naphtha/Gasoline-Gasoline crack hovers above $19/barrel for fourth day

NEW DELHI, March 29 (Reuters) - Asia's gasoline crack extended gains on Wednesday as tight inventories at the key trading hub of United States ahead of driving season continued to underpin prices. The refining profit margin for gasoline rose to $19.32 a barrel, compared with $19.12 a barrel a day earlier. The crack also mirrored the gains in Northwest European gasoline refining margins, which were at their highest since mid-October at around $23 per barrel on Tuesday as French strikes affecting oil refineries continued. On the demand side, Australia's gasoline imports are expected to rise 2% to hit a record for a second straight year due to a drop in domestic production and a post-COVID economic recovery boosting fuel demand, traders and analysts said. INVENTORIES U.S. gasoline inventories fell by about 5.9 million barrels, market sources said, compared with analysts estimates of a decline by about 1.6 million barrels. Fujairah inventories of light distillates rose for a second straight week to 7.722 million barrels in the week to March 27, data from S&P Global Commodity Insights showed. NEWS - Russia's largest oil producer Rosneft and India's top refiner Indian Oil Corp have signed a term agreement to substantially increase oil supplies and diversify oil grades delivered to India, Rosneft said on Wednesday. - Large inflows of Russian crude oil and refined products have boosted tank storage demand at the United Arab Emirates' Fujairah, pushing storage fees at the transit and blending hub to all-time highs in the first quarter, industry sources said. SINGAPORE CASH DEALS No trades. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 675.25 4.25 0.63 671.00 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 664.25 4.25 0.64 660.00 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 11.00 0.00 0.00 11.00 <NAF-TYO-D IF> Naphtha Netback FOB 73.03 0.47 0.65 72.56 Sing
Naphtha-Brent Crack 83.65 2.00 2.45 81.65 <NAF-SIN-C RK> Gasoline 97 103.65 0.50 0.48 103.15 Gasoline 95 102.51 0.50 0.49 102.01 Gasoline 92 98.20 0.50 0.51 97.70 Gasoline crack 19.32 0.20 1.05 19.12 <GL92-SIN- CRK>
For a list of derivatives prices, including
margins, please double click the RICs below.
Brent M1 <BRENTSGMc

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Naphtha CFR Japan M1 <NACFRJPSW

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Naphtha CFR Japan <NACFRJPSD
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Naphtha Japan-Sing <NAPTC4SPD
Netback M1 Mc1>
Naphtha Japan-Sing <NAPTC4SPD
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Naphtha FOB Sing M1 <NAFOBSGSW

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Naphtha FOB Sing M2 <NAFOBSGSW

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Naphtha Cracks M1 <NACFRJPCK

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East-West Naphtha M1 <NAPJPEWMc

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NWE Naphtha M1 <NAPCNWEAM

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NWE Naphtha M1/M2 <NAPCNWEAS

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Crack NWE <NAPCNWEAC
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Crack NWE <NAPCNWEAC
Naphtha-Brent M2 Mc2>

*Sing refers to
Singapore

(Reporting by Mohi Narayan)

Reuters

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Asia Naphtha/Gasoline-Gasoline crack hovers above $19/barrel for fourth day

By Reuters

Reuters

Reuters

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