off-the-wire

Asia Naphtha/Gasoline-Gasoline margin rises as U.S. stocks fall

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, April 27 (Reuters) - Asia's gasoline margin rose on Thursday as inventories in the world's biggest fuel market declined while the naphtha margin was supported by losses in crude oil benchmarks. The gasoline crack gained about 22 cents to $9 a barrel over Brent crude while the naphtha crack rose by $5.27 to $55.75 a tonne. U.S. gasoline stocks fell by 2.4 million barrels to 221.1 million barrels, government data showed, compared with expectations of a decline of 900,000 barrels. Meanwhile, Singapore's commercial hub imported about 80,000 tonnes (720,000 barrels) of naphtha from Russia in the week to April 26, government data showed. Total light distillates inventories at the hub climbed by 105,000 barrels to 15.120 million barrels in the week, the data showed.



TENDERS India's MRPL offered 20,000 tonnes of naphtha for delivery over May 19-20 in a tender that closes on Friday with same-day validity.


The company also offered 30,000 tonnes of reformate for May 24-28 delivery. This tender also closes of Friday.


SINGAPORE CASH DEALS One gasoline trade, no naphtha deals. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 641.50 -16.25 -2.47 657.75 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 636.50 -16.00 -2.45 652.50 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 5.00 -0.25 -4.76 5.25 <NAF-TYO-D IF> Naphtha Netback FOB 69.28 -1.80 -2.53 71.08 Sing
Naphtha-Brent Crack 55.75 5.27 10.44 50.48 <NAF-SIN-C RK> Gasoline 97 92.61 -2.65 -2.78 95.26 Gasoline 95 91.15 -2.65 -2.83 93.80 Gasoline 92 87.10 -2.65 -2.95 89.75 Gasoline crack 9.00 0.22 2.51 8.78 <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 David Goodman )

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.