Asia Naphtha/Gasoline-Gasoline margins hit a week's high; naphtha continues rally
SINGAPORE, Nov 19 (Reuters) -Asia's gasoline margins improved on Tuesday to more than a week's high, as short-term demand looks to pick up going into the year-end festivities.
The crack improved to $5.43 per barrel over Brent crude, its highest since Nov. 6.
In naphtha, the crack inched up for the second straight session to $83.23 per metric ton over Brent crude.
Regional traders shared that heading into the final month of the year, they expect the naphtha margins to enter a holding range in the $80's per metric ton.
Oil slipped on Tuesday pressured by the restart of production at Norway's Johan Sverdrup oilfield, although investor caution arising from fears of an escalation in the Russia-Ukraine war limited the decline. O/R
The International Monetary Fund warned on Tuesday that "tit-for-tat" tariffs could undermine Asia's economic prospects, raise costs and disrupt supply chains even as it expects the region to remain a key engine of growth for the global economy.
SINGAPORE CASH DEALS O/AS
Two gasoline deals and one naphtha trade.
PRICES
CASH | ASIA CLOSE | Change | Prev Close | RIC |
OSN Naphtha CFR Japan M1 ($/mt) | 632.00 | 14.50 | 617.50 | NAF-1H-TYO |
OSN Naphtha CFR Japan M2 ($/mt) | 630.50 | 14.50 | 616.00 | NAF-2H-TYO |
OSN Naphtha Diff ($/mt) | 1.50 | 0.00 | 1.50 | NAF-TYO-DIF |
Naphtha Netback FOB Sing ($/bbl) | 68.22 | 1.66 | 66.56 | NAF-SIN |
Naphtha Diff FOB Sing | 0.40 | 0.00 | 0.40 | NAF-SIN-DIF |
Naphtha-Brent Crack ($/mt) | 83.23 | 0.48 | 82.75 | NAF-SIN-CRK |
Gasoline 97 ($/bbl) | 83.64 | 2.60 | 81.04 | GL97-SIN |
Gasoline 95 ($/bbl) | 84.30 | 2.60 | 81.70 | GL95-SIN |
Gasoline 92 ($/bbl) | 78.60 | 2.60 | 76.00 | GL92-SIN |
Gasoline crack ($/bbl) | 5.43 | 0.73 | 4.70 | 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
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