off-the-wire

Asia Naphtha/Gasoline-Gasoline falls below $9/bbl as stocks rise

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, May 4 (Reuters) - Asia's gasoline refining profit margin fell below $9 a barrel on Thursday after an unexpected rise in inventories at the commercial hub of the United States. The crack fell to $8.38 a barrel over Brent crude oil, compared with $9.51 a barrel a day earlier. At the Singapore window, there were several bids but none of the offers could match them, resulting in no trades for a second straight day. There were no deals for naphtha as well. Meanwhile, the naphtha crack rose by about $7 to $37.73 a tonne over Brent crude on Thursday amid weakness in oil benchmarks. INVENTORIES Singapore stocks of light distillates climbed to a three-week high of 15.552 million barrels in the week to May 3, Enterprise Singapore data showed. U.S. gasoline stocks rose by 1.7 million barrels to 222.9 million barrels, government data showed, compared with forecasts for a 1.2 million-barrel drop. ?


NEWS - China likely imported record volumes of petrochemical feedstocks naphtha and liquefied petroleum gas in April, preliminary ship-tracking data showed, on rising petrochemical demand as it recovers from the economic downturn triggered by COVID-19 curbs.


- Chinese customs authorities are stepping up inspection checks on cargoes of heavy crude oil after uncovering several Iranian shipments that were mislabelled as diluted bitumen in an effort to bypass import quotas. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 586.50 0.00 0.00 586.50 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 582.50 0.00 0.00 582.50 <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 0.00 0.00 63.17 Sing
Naphtha-Brent Crack 37.73 6.91 22.42 30.82 <NAF-SIN-C RK> Gasoline 97 86.95 -2.05 -2.30 89.00 Gasoline 95 85.50 -2.05 -2.34 87.55 Gasoline 92 81.55 -2.05 -2.45 83.60 Gasoline crack 8.38 -1.13 -11.88 9.51 <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 Shilpi Majumdar)

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