off-the-wire

Asia Naphtha/Gasoline-Gasoline margin drops to over four-month low

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, May 9 (Reuters) - Asia's gasoline markets fell to the lowest in over four months amid uncertainty around China's exports, while top importer Indonesia deferred some May deliveries to June, market participants said. The crack dropped by $1.41 to $7.02 a barrel over Brent crude, the lowest since Dec. 29, Refinitiv Eikon data showed. Indonesian state energy company PT Pertamina has deferred some of its gasoline deliveries for May to June after the high-demand season of Ramadan ended, trade sources said. The company made a "delivery adjustment" after considering domestic demand, consumption patterns, product inventory levels and energy security, said Murti Dewi Hani, a spokesperson at Pertamina Patra Niaga, the company's trading unit. Meanwhile, naphtha crack inched up 30 cents to $39.40 a tonne over Brent crude. NEWS - The United Arab Emirates' energy minister Suhail al-Mazrouei said on Tuesday that additional voluntary output cuts by the OPEC+ producer group were implemented to balance the oil market. - Saudi oil giant Aramco's first-quarter net profit dropped 19% from a year earlier to 119.54 billion riyals ($31.88 billion), it said on Tuesday, due to lower crude prices.


SINGAPORE CASH DEALS One gasoline deal, no naphtha trades. PRICES
CASH ($/T) ASIA CLOSE Change % Prev RIC Change Close
OSN Naphtha CFR 610.00 -2.25 -0.37 612.25 <NAF-1H-TY Japan M1 O> OSN Naphtha CFR 606.50 -1.75 -0.29 608.25 <NAF-2H-TY Japan M2 O> OSN Naphtha Diff 3.50 -0.50 -12.50 4.00 <NAF-TYO-D IF> Naphtha Netback FOB 65.78 -0.25 -0.38 66.03 Sing
Naphtha-Brent Crack 39.40 0.30 0.77 39.10 <NAF-SIN-C RK> Gasoline 97 88.50 -1.75 -1.94 90.25 Gasoline 95 87.05 -1.75 -1.97 88.80 Gasoline 92 83.10 -1.75 -2.06 84.85 Gasoline crack 7.02 -1.41 -16.73 8.43 <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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