Asia Naphtha/Gasoline-Gasoline, naphtha margins hold steady
SINGAPORE, Nov 29 (Reuters) -Asia's gasoline margins held relatively steady on Friday, as exports from China are expected to wane going forward following the reduction in the value-added tax rebate on gasoline exports effective Dec. 1, contributing to the bullish sentiment.
The crack was at $7.47 per barrel over Brent crude, from $7.46 on Thursday.
In naphtha, the margins continued their climb to settle at $85.78 per metric ton over Brent crude.
NEWS
Oil prices fell on Friday, heading for a weekly drop of more than 3%, as concerns over supply risks from the Israel-Hezbollah conflict eased, alleviating earlier disruption fears. O/R
OPEC+ is discussing postponing its oil output hike due to start in January for the first quarter of 2025, OPEC+ sources told Reuters on Thursday, and will hold further talks on this and other options ahead of its delayed policy meeting on Dec. 5.
SINGAPORE CASH DEALS O/AS
Two gasoline deals and two naphtha trades.
PRICES
CASH | ASIA CLOSE | Change | Prev Close | RIC |
OSN Naphtha CFR Japan M1 ($/mt) | 635.00 | 6.00 | 629.00 | NAF-1H-TYO |
OSN Naphtha CFR Japan M2 ($/mt) | 633.00 | 6.00 | 627.00 | NAF-2H-TYO |
OSN Naphtha Diff ($/mt) | 2.00 | 0.00 | 2.00 | NAF-TYO-DIF |
Naphtha Netback FOB Sing ($/bbl) | 68.56 | 0.72 | 67.84 | NAF-SIN |
Naphtha Diff FOB Sing | 0.40 | 0.00 | 0.40 | NAF-SIN-DIF |
Naphtha-Brent Crack ($/mt) | 85.78 | 0.08 | 85.70 | NAF-SIN-CRK |
Gasoline 97 ($/bbl) | 85.74 | 0.80 | 84.94 | GL97-SIN |
Gasoline 95 ($/bbl) | 86.40 | 0.80 | 85.60 | GL95-SIN |
Gasoline 92 ($/bbl) | 80.70 | 0.80 | 79.90 | GL92-SIN |
Gasoline crack ($/bbl) | 7.47 | 0.01 | 7.46 | 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 Shreya Biswas
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