Asia Naphtha/Gasoline-Gasoline margin stable on firm demand despite global downtrend

Reuters

Asia Naphtha/Gasoline-Gasoline margin stable on firm demand despite global downtrend

2024 7월 16 일, 오전 11:01 GMT

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NEW DELHI, July 16 (Reuters) -Asia's gasoline markets were steady on Tuesday, bucking the global downtrend amid a rise in Japanese import demand and anticipation of lower supply in July-August period.

The refining profit margin for gasoline traded above $8 per barrel over Brent crude. At the Singapore deals window, there were no trades for transport fuel. O/AS

On the demand front, Indian state retailers sold 1.29 million tons of gasoline in the first fortnight of July, up 3.7% year-on-year. However, compared with June, sales were down 6.1% due to heavy rains.

In Japan and South Korea, market participants said summer demand remained strong. Energy consultancy FGE noted lower runs from unplanned outages and marginal run cuts in the region will cause Asia's overall gasoline supply to fall short of last year's figure.

"China's gasoline exports will also remain subdued at 220,000 barrels per day (bpd) in July and August, 140,000 bpd lower year-on-year, amid the peak of seasonal demand and pressured run rates among domestic refineries," the consultancy wrote in a note.

NEWS

- Indian private oil refiner Nayara Energy is planning to shut a delayed coker and some other units at its refinery in Vadinar for maintenance for about three weeks from end-August or early September, three trading sources said. REF/OUT

- Indonesian state energy company Pertamina expects its Balikpapan refinery's CDU IV to resume operations later this month, an official at its refinery subholding PT Kilang Pertamina Internasional (KPI) said on Tuesday.

- Yemen's Houthis targeted three vessels, including an oil tanker, in the Red and Mediterranean seas with ballistic missiles, drones and booby-trapped boats, they said on Monday.

PRICES

CASH	ASIA CLOSE	Change	Prev Close	RIC
OSN Naphtha CFR Japan M1 ($/mt)	699.00	-6.00	705.00	NAF-1H-TYO
OSN Naphtha CFR Japan M2 ($/mt)	693.50	-8.50	702.00	NAF-2H-TYO
OSN Naphtha Diff ($/mt)	5.50	2.50	3.00	NAF-TYO-DIF
Naphtha Netback FOB Sing ($/bbl)	75.67	-0.61	76.28	NAF-SIN
Naphtha-Brent Crack ($/mt)	68.10	0.45	67.65	NAF-SIN-CRK
Gasoline 97 ($/bbl)	97.36	-0.46	97.82	GL97-SIN
Gasoline 95 ($/bbl)	95.75	-0.46	96.21	GL95-SIN
Gasoline 92 ($/bbl)	92.54	-0.46	93.00	GL92-SIN
Gasoline crack ($/bbl)	8.42	0.40	8.02	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