off-the-wire

Asia Naphtha/Gasoline-Gasoline crack inches lower; PTT sells higher grade of fuel

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, April 5 (Reuters) - Asia's refining margin for gasoline fell below $17 a barrel on Wednesday for the first time this week, although sentiment remained positive amid robust demand. The crack slipped to $16.33 per barrel over Brent crude, compared with $17.03 a day earlier.


In rare trade at the Singapore window, energy trader PTT sold 50,000 barrels of octane-97 gasoline for May 1-5 loading. Trafigura and Unipec snapped up a cargo each of the octane-95 grade of motor fuel. Meanwhile, the naphtha crack continued to decline amid a rise in demand for a cheaper alternative feedstock liquefied petroleum gas (LPG). The crack gave up 75 cents at $52.98 a tonne over Brent crude on Wednesday.


INVENTORIES Light distillates stocks at the Fujairah commercial hub plunged by 1.6 million barrels to 6.075 million barrels in the week to April 3, S&P Global Commodity Insights data showed.


NEWS - Finnish biofuel producer Neste plans to start commercial production at its renewable fuels expansion project in Singapore in the coming weeks after trial runs, a senior company executive said on Wednesday.


- Russia has started to make ship-to-ship (STS) transfers of diesel near African ports as it seeks transatlantic sales, according to traders and Refinitiv Eikon data. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 694.00 -0.75 -0.11 694.75 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 687.50 -0.75 -0.11 688.25 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 6.50 0.00 0.00 6.50 <NAF-TYO-D IF> Naphtha Netback FOB 75.11 -0.08 -0.11 75.19 Sing
Naphtha-Brent Crack 52.98 -0.75 -1.40 53.73 <NAF-SIN-C RK> Gasoline 97 107.60 -0.70 -0.65 108.30 Gasoline 95 104.10 -0.70 -0.67 104.80 Gasoline 92 101.80 -0.70 -0.68 102.50 Gasoline crack 16.33 -0.70 -4.11 17.03 <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 Janane Venkatraman)

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