off-the-wire

Asia Naphtha/Gasoline-Margin weakens; Singapore gets 71kt of Russian naphtha this week

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, April 13 (Reuters) - Asia's naphtha refining profit margin dropped on Thursday as stocks at key trading hub Singapore climbed and weakening prices of alternative feedstock liquefied petroleum gas soured demand sentiment. The naphtha crack slipped by $7.42 to $45.93 a tonne over Brent crude.


Singapore shipped in about 71,401 tonnes of Russian naphtha in the week to Wednesday, government data showed, up from none in the prior week. Total light distillate inventories rose by 982,000 barrels to around 16 million barrels, the data showed. In physical markets, there were no deals for both the products. There was just one offer for naphtha without any bids. Meanwhile, the gasoline crack was steady at $14.79 a barrel on Thursday.


NEWS - Russia boosted gasoline exports by nearly 50% year-on-year in the first quarter, shipping cargoes directly to Africa as it carved out new trade routes after the European Union sanctioned Russian oil, ship tracking data showed. - China's crude oil imports in March surged 22.5% from a year earlier as refiners stepped up purchases from relatively low levels in 2022. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 700.00 5.25 0.76 694.75 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 693.50 5.25 0.76 688.25 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 6.50 0.00 0.00 6.50 <NAF-TYO-D IF> Naphtha Netback FOB 75.78 0.59 0.78 75.19 Sing
Naphtha-Brent Crack 45.93 -7.42 -13.91 53.35 <NAF-SIN-C RK> Gasoline 97 107.79 1.70 1.60 106.09 Gasoline 95 104.70 1.70 1.65 103.00 Gasoline 92 102.00 1.70 1.69 100.30 Gasoline crack 14.79 0.01 0.07 14.78 <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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