off-the-wire

Asia Naphtha/Gasoline-Gasoline refining profit margin extends fall

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, April 25 (Reuters) - Asia's gasoline refining profit margins extended losses on Tuesday in the absence of deals at the Singapore window. The crack fell to $9.55 a barrel over Brent crude, compared with $9.92 a barrel a day earlier. The risk of high gasoline output in the region and increased exports from China also soured market sentiment, analysts and traders said. At the Singapore window, there were no trades for gasoline. In naphtha markets, a deal happened after a gap of more than a month - energy trader Trafigura bought 25,000 tonnes of naphtha for first-half July delivery. The naphtha margin in the region also declined to $54.88 a tonne from $58.40 a tonne a day earlier as crude oil benchmarks gained. NEWS - Global diesel margins have slumped by about half since February, dragging on refiners' profits, as Russian exports continue despite sanctions, helping output from China and India reach all-time highs in March.


- Oil edged higher on Tuesday, on track for a third day of gains, supported by investor optimism that holiday travel in China would boost fuel demand, and over expectations that U.S. inventories would show a drop in crude stocks. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 677.00 9.00 1.35 668.00 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 672.00 9.00 1.36 663.00 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 5.00 0.00 0.00 5.00 <NAF-TYO-D IF> Naphtha Netback FOB 73.22 1.00 1.38 72.22 Sing
Naphtha-Brent Crack 54.88 -3.52 -6.03 58.40 <NAF-SIN-C RK> Gasoline 97 98.01 1.30 1.34 96.71 Gasoline 95 96.58 1.30 1.36 95.28 Gasoline 92 92.50 1.30 1.43 91.20 Gasoline crack 9.55 -0.37 -3.73 9.92 <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 Sohini Goswami)

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