off-the-wire

Asia Naphtha/Gasoline-Gasoline markets end month in gains

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, March 31 (Reuters) - Asia's gasoline markets gained nearly 29% this month amid thinning inventories and robust consumption at key demand centers such as U.S., China and Australia.


The gasoline refining margin slipped on Friday to $15.49 a barrel over Brent crude amid a weakness in oil benchmarks. Global light distillate stocks drew down for the sixth consecutive week to their lowest since end-2022. Total stocks have stayed on average 4.4 million barrels below the historic levels since the end of last year, estimates by consultancy FGE showed. Meanwhile, Taiwan's Formosa offered term cargoes of alkylate for May 2023-March 2024 period, in a tender that is valid till Friday.


ARA INVENTORIES Gasoline stocks at the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose 1.6% to 1.47 million tonnes in the week to Thursday on slower exports to the United States, Insights Global data showed.


Naphtha inventories declined to 218,000 tonnes in the week to March 30 from 253,000 tonnes in the prior week, the data showed.


NEWS - Vietnam would need investment of up to 270 trillion dong ($11.51 billion) to expand its national fuel storage system by 2030, state media reported on Friday, citing a draft plan prepared by the Ministry of Industry and Trade. - OPEC+ is likely to stick to its existing deal to cut oil output at a meeting on Monday, five delegates from the producer group told Reuters, after oil prices recovered following a drop to 15-month lows. SINGAPORE CASH DEALS Two gasoline trades, no naphtha deals. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 654.50 -20.75 -3.07 675.25 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 644.50 -19.75 -2.97 664.25 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 10.00 -1.00 -9.09 11.00 <NAF-TYO-D IF> Naphtha Netback FOB 70.72 -2.31 -3.16 73.03 Sing
Naphtha-Brent Crack 64.18 -19.47 -23.28 83.65 <NAF-SIN-C RK> Gasoline 97 99.89 -3.76 -3.63 103.65 Gasoline 95 97.80 -4.71 -4.59 102.51 Gasoline 92 94.20 -4.00 -4.07 98.20 Gasoline crack 15.49 -3.83 -19.82 19.32 <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 Krishna Chandra Eluri)

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