Asia Naphtha/Gasoline-Gasoline margins dip; naphtha crack weighed down by poor demand
SINGAPORE, Nov 27 (Reuters) -Asia's gasoline margins dipped on Wednesday, after hitting a 15-week high in the previous session, even as 200,000 barrels of the benchmark grade of octane exchanged hands at the closing window.
The crack dipped to $6.93 per barrel over Brent crude, from $7.06 on Tuesday.
In naphtha, the margins declined for a fourth consecutive session on weak demand for the light distillate, leading to refining cuts.
The crack dipped by $2.72 to $82.73 per metric ton over Brent crude.
INVENTORIES
Light distillate stocks, including naphtha and gasoline, at the Fujairah commercial hub rose by 123,000 barrels to 5.823 million barrels in the week ending Nov. 25, S&P Global Commodity Insights data showed. FUJAIRAH/
U.S. gasoline inventories rose by 1.81 million barrels, and distillate stocks rose by 2.54 million barrels, market sources said, citing American Petroleum Institute figures on Tuesday. API/S
NEWS
Oil prices edged up on Wednesday, with markets assessing the potential impact of a ceasefire deal between Israel and Hezbollah and Sunday's OPEC+ meeting, in which the group could delay a planned increase to oil output. O/R
Oil producers in Canada and Mexico will likely be forced to reduce prices and divert supply to Asia if U.S. President-elect Donald Trump imposes 25% import tariffs on crude imports from the two countries, traders and analysts said.
SINGAPORE CASH DEALS O/AS
Two gasoline deals and one naphtha trade.
PRICES
CASH | ASIA CLOSE | Change | Prev Close | RIC |
OSN Naphtha CFR Japan M1 ($/mt) | 630.00 | -5.50 | 635.50 | NAF-1H-TYO |
OSN Naphtha CFR Japan M2 ($/mt) | 628.00 | -5.50 | 633.50 | NAF-2H-TYO |
OSN Naphtha Diff ($/mt) | 2.00 | 0.00 | 2.00 | NAF-TYO-DIF |
Naphtha Netback FOB Sing ($/bbl) | 68.00 | -0.56 | 68.56 | NAF-SIN |
Naphtha Diff FOB Sing | 0.40 | 0.00 | 0.40 | NAF-SIN-DIF |
Naphtha-Brent Crack ($/mt) | 82.73 | -2.72 | 85.45 | NAF-SIN-CRK |
Gasoline 97 ($/bbl) | 84.94 | -0.50 | 85.44 | GL97-SIN |
Gasoline 95 ($/bbl) | 85.60 | -0.50 | 86.10 | GL95-SIN |
Gasoline 92 ($/bbl) | 79.90 | -0.50 | 80.40 | GL92-SIN |
Gasoline crack ($/bbl) | 6.93 | -0.13 | 7.06 | GL92-SIN-CRK |
For a list of derivatives prices, including margins, please double click the RICs below. | ||||
Brent M1 | BRENTSGMc1 | |||
Naphtha CFR Japan M1 | NACFRJPSWMc1 | |||
Naphtha CFR Japan M1/M2 | NACFRJPSDMc1 | |||
Naphtha CFR Japan M2 | NACFRJPSWMc2 | |||
Naphtha Japan-Sing Netback M1 | NAPTC4SPDMc1 | |||
Naphtha Japan-Sing Netback M2 | NAPTC4SPDMc2 | |||
Naphtha FOB Sing M1 | NAFOBSGSWMc1 | |||
Naphtha FOB Sing M1/M2 | NAFOBSGSDMc1 | |||
Naphtha FOB Sing M2 | NAFOBSGSWMc2 | |||
Naphtha Cracks M1 | NACFRJPCKMc1 | |||
East-West Naphtha M1 | NAPJPEWMc1 | |||
East-West Naphtha M2 | NAPJPEWMc2 | |||
NWE Naphtha M1 | NAPCNWEAMc1 | |||
NWE Naphtha M1/M2 | NAPCNWEASMc1 | |||
NWE Naphtha M2 | NAPCNWEAMc2 | |||
Crack NWE Naphtha-Brent M1 | NAPCNWEACMc1 | |||
Crack NWE Naphtha-Brent M2 | NAPCNWEACMc2 | |||
*Sing refers to Singapore | ||||
Reporting by Haridas; Editing by Janane Venkatraman
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