off-the-wire

Asia Naphtha/Gasoline-Gasoline margin above $17/bbl, Aramco on buying spree

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, April 4 (Reuters) - Asia's gasoline prices rose for a second consecutive session on Tuesday amid active trading at the Singapore window and rise in crude oil benchmarks. The gasoline refining profit margin eased slightly but stayed above $17 a barrel over Brent crude. In physical markets, energy trader Aramco was on a buying spree for a second consecutive day, with a total purchase of 400,000 barrels of benchmark grade of gasoline. Vitol bought 50,000 barrels of the higher octane-95 grade of the fuel. Meanwhile, the naphtha crack weakened by 77 cents to $53.50 a tonne over Brent crude and the backwardation stood at $6.50 per tonne on Tuesday. NEWS - Record volumes of Russian diesel poured into the Middle East in March, shiptracking data showed, as traders cashed in on low prices to stock up the fuel at the Fujairah hub of the United Arab Emirates and in Saudi Arabia, which is boosting exports.


- Oil prices rose on Tuesday after OPEC+ plans to cut more production jolted markets the previous day, with investors' attention shifting to demand trends and the impact of higher prices on the global economy.
PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 694.75 8.75 1.28 686.00 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 688.25 8.75 1.29 679.50 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 6.50 0.00 0.00 6.50 <NAF-TYO-D IF> Naphtha Netback FOB 75.19 0.97 1.31 74.22 Sing
Naphtha-Brent Crack 53.73 -0.77 -1.41 54.50 <NAF-SIN-C RK> Gasoline 97 108.30 0.49 0.45 107.81 Gasoline 95 104.80 -0.20 -0.19 105.00 Gasoline 92 102.50 0.60 0.59 101.90 Gasoline crack 17.03 -0.67 -3.79 17.70 <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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