Asia Naphtha/Gasoline-PSO seeks H2-Jan loading gasoline; naphtha crack climbs to two-week high
SINGAPORE, Dec 10 (Reuters) -Asia's gasoline margins rallied on Tuesday after dipping in the previous session.
The crack improved to $9.02 per barrel over Brent crude, from $7.55 on Monday.
In tenders, Pakistan's PSO was seeking 92-octane gasoline for the loading period of Jan. 25-31, the company website listed. The tender closes on Dec. 16.
In naphtha, the margins improved to more than a two-week high to $92.40 per metric ton over Brent crude, its highest since Nov. 21.
Regional traders shared that there is little impetus for cracker operating rates to be ramped up amid lacklustre margins and a foreboding sense of caution as the market eyes the start-up of three new crackers in China during October 2024-March 2025, which would lead to incremental petrochemical supplies entering the market.
In tenders, Mangalore's MRPL was offering 30,000 metric tons of naphtha for the loading period of Dec. 27-28, the company website listed. The tender closes on Dec. 10.
NEWS
Oil prices slipped on Tuesday as concerns eased about the fallout from Syrian President Bashar al-Assad's overthrow, but the market found support in China's vow to ramp up policy stimulus, which could boost the top global crude buyer's demand. O/R
Private Chinese refiner Hengli Petrochemical has snapped up Middle East crude, six traders familiar with the matter said, mostly from TotalEnergies after the French major amassed a large volume of the oil and as Iranian supply to China has tightened.
SINGAPORE CASH DEALS O/AS
One gasoline deal and no naphtha trade.
PRICES
CASH | ASIA CLOSE | Change | Prev Close | RIC |
OSN Naphtha CFR Japan M1 ($/mt) | 632.25 | 4.75 | 627.50 | NAF-1H-TYO |
OSN Naphtha CFR Japan M2 ($/mt) | 630.75 | 4.75 | 626.00 | NAF-2H-TYO |
OSN Naphtha Diff ($/mt) | 1.50 | 0.00 | 1.50 | NAF-TYO-DIF |
Naphtha Netback FOB Sing ($/bbl) | 68.25 | 0.58 | 67.67 | NAF-SIN |
Naphtha Diff FOB Sing | 0.40 | 0.00 | 0.40 | NAF-SIN-DIF |
Naphtha-Brent Crack ($/mt) | 92.40 | 5.27 | 87.13 | NAF-SIN-CRK |
Gasoline 97 ($/bbl) | 84.24 | 1.40 | 82.84 | GL97-SIN |
Gasoline 95 ($/bbl) | 84.90 | 1.40 | 83.50 | GL95-SIN |
Gasoline 92 ($/bbl) | 81.00 | 1.40 | 79.60 | GL92-SIN |
Gasoline crack ($/bbl) | 9.02 | 1.47 | 7.55 | 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 Tasim Zahid
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
