Asia Naphtha/Gasoline-Gasoline crack inches up after China's exports fall in July
Aug 19 (Reuters) -Asia's gasoline margin inched up on Monday after China data showed a drop in exports in July.
The regional gasoline crack rose to $5.53 per barrel over Brent crude, from $5.05 on Friday.
China's gasoline exports fell 35.7% in July from a year earlier, customs data showed on Sunday, as refiners lowered crude runs and held back from shipments due to weakening profit margins.
Gasoline exports stood at 790,000 metric tons last month, or 5.77 million barrels per day, data from the General Administration of Customs showed. China exported 1.22 million tons of gasoline in July last year and 930,000 tons in June.
"Motor fuel exports remain capped because of weak margins and production, due to refinery run cuts," said Emma Li, senior China oil analyst for Vortexa.
For naphtha, the crack rose $7.97 to $78.10 a metric ton over Brent crude as the prompt month becomes first-half October.
NEWS
Russian oil companies have boosted oil refining volumes this month as Gazprom GAZP.MM plants ramped up output. This month's oil refining volumes have averaged about 760,000 metric tons per day, equating to 5.6 million barrels per day (bpd), up 2% from the previous month's average of 758,400 tons per day.
Oil prices eased on Monday, with Brent holding below $80. Brent crude futures LCOc1 dropped 63 cents, or 0.8%, to $79.05 a barrel by 0927 GMT. U.S. West Texas Intermediate crude futures CLc1 slid 73 cents, or 1%, to $75.92. O/R
SINGAPORE CASH DEALS O/AS
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PRICES
CASH | ASIA CLOSE | Change | Prev Close | RIC |
OSN Naphtha CFR Japan M1 ($/mt) | 671.50 | -2.75 | 674.25 | NAF-1H-TYO |
OSN Naphtha CFR Japan M2 ($/mt) | 672.00 | -2.75 | 674.75 | NAF-2H-TYO |
OSN Naphtha Diff ($/mt) | -0.50 | 0.00 | -0.50 | NAF-TYO-DIF |
Naphtha Netback FOB Sing ($/bbl) | 72.61 | -0.26 | 72.87 | NAF-SIN |
Naphtha Diff FOB Sing | 0.40 | 0.00 | 0.40 | NAF-SIN-DIF |
Naphtha-Brent Crack ($/mt) | 78.10 | 7.97 | 70.13 | NAF-SIN-CRK |
Gasoline 97 ($/bbl) | 89.92 | -0.95 | 90.87 | GL97-SIN |
Gasoline 95 ($/bbl) | 89.25 | -0.95 | 90.20 | GL95-SIN |
Gasoline 92 ($/bbl) | 84.65 | -0.95 | 85.60 | GL92-SIN |
Gasoline crack ($/bbl) | 5.53 | 0.48 | 5.05 | 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 Shailesh Kuber
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