Asia Naphtha/Gasoline-Naphtha margin falls, gasoline rises

NEW DELHI, May 3 (Reuters) - Asian naphtha prices dropped on Wednesday amid weak demand from petrochemical operators and high competition from rival feedstock liquefied petroleum gas (LPG), while a slump in crude oil prices also soured market sentiment. The crack was down about $9 at $30.82 a tonne over Brent crude oil, while the second-half June naphtha slumped by $46 to $586.50 a tonne. On the supply side, total naphtha flows into Asia dropped by 8% to 5.5-5.6 million tonnes in April, tumbling to the lowest level since June 2022, assessments by Refinitiv Oil Research showed. Meanwhile, the gasoline crack inched higher by 23 cents to $9.51 a barrel over Brent crude on Wednesday, but trade remained subdued due to public holidays. NEWS - Oil prices extended losses on Wednesday after plunging 5% in the previous session as investors fretted about the health of the U.S. economy ahead of an expected Federal Reserve interest rate hike later in the day. - A second oil tanker in a week was seized by Iran on Wednesday in Gulf waters, the U.S. Navy said, the latest escalation in a series of seizures or attacks on commercial vessels in Gulf waters since 2019. - Rail deliveries to Russia's Black Sea port of Taman will be restricted until further notice, Russian Railways said on its website, after Russian officials said a fuel depot had caught fire near a crucial bridge linking mainland Russia to Crimea. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 586.50 -46.00 -7.27 632.50 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 582.50 -46.00 -7.32 628.50 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 4.00 0.00 0.00 4.00 <NAF-TYO-D IF> Naphtha Netback FOB 63.17 -5.11 -7.48 68.28 Sing
Naphtha-Brent Crack 30.82 -9.03 -22.66 39.85 <NAF-SIN-C RK> Gasoline 97 89.00 -4.80 -5.12 93.80 Gasoline 95 87.55 -4.80 -5.20 92.35 Gasoline 92 83.60 -4.70 -5.32 88.30 Gasoline crack 9.51 0.23 2.48 9.28 <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 Savio D'Souza)

Reuters

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.

off-the-wire

Asia Naphtha/Gasoline-Naphtha margin falls, gasoline rises

By Reuters

Reuters

Reuters

Ex-Fed insider warns of systemic 'liquidity crisis,' sees gold sell-off as a major 'distress signal'

Why gold revaluation charts put prices at $25,000-$55,000 if history rhymes, silver poised for breakout: Crescat Capital Strategist

Gold and silver see worst one-day drop in years, but long-term uptrend remains solid - Experts

Strong price pressure on gold, silver amid extreme volatility

It’s time to take profits on gold and silver, but ‘this is the trifecta I’m watching’ - Marketgauge’s Schneider