off-the-wire

Asia Naphtha/Gasoline-Gasoline tanks 34% on week, naphtha rises

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, April 21 (Reuters) - Asia's gasoline markets declined nearly 34% this week, hitting their lowest levels since early January, amid speculation around Chinese quotas and an unexpected rise in U.S. inventories. The crack was up slightly on Friday at $9.72 a barrel over Brent crude. At the Singapore trading window, there were no trades for both naphtha and gasoline, according to market participants. Singapore markets closed early on Friday on account of a public holiday. "U.S. gasoline stocks increased for the first time in eight weeks, building by 1.3 million barrels and are now 9.9 million barrels below the 2015-2019 average and 8.8 million barrels below last year's levels," analysts at energy consultancy FGE said in a note. Meanwhile, naphtha markets gained 15% on the back of volatility in crude oil benchmarks. NEWS - Several Asian petrochemical producers plan to switch a portion of their feedstock from naphtha to cheaper liquefied petroleum gas (LPG) late in the second quarter as the price gap between the two fuels has widened, refinery and trade sources said. - Chinese state oil giants and major private refiners are sweeping up more Russian crude, supporting prices and forcing smaller independents to seek out cheap alternatives such as Iranian oil, according to trade sources and shipping data. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 667.50 2.25 0.34 665.25 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 661.50 2.25 0.34 659.25 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 6.00 0.00 0.00 6.00 <NAF-TYO-D IF> Naphtha Netback FOB 72.17 0.25 0.35 71.92 Sing
Naphtha-Brent Crack 59.40 9.15 18.21 50.25 <NAF-SIN-C RK> Gasoline 97 96.32 -0.91 -0.94 97.23 Gasoline 95 94.89 -0.85 -0.89 95.74 Gasoline 92 90.80 -0.85 -0.93 91.65 Gasoline crack 9.72 0.07 0.73 9.65 <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 Sonia Cheema)

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