Asia Naphtha/Gasoline-Gasoline margins hit four-week high, crosses $6/bbl

Reuters

Asia Naphtha/Gasoline-Gasoline margins hit four-week high, crosses $6/bbl

2024 9월 3 일, 오전 10:24 GMT

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Sept 3 (Reuters) -Asia's gasoline refining margin rose to a four-week high on Tuesday as 300,000 barrels of the benchmark octane traded.

The crack rose to $6.69 per barrel over Brent crude from $5.01 on Monday. The crack last hit a high of $7.02 on Aug. 6.

In the naphtha market, the crack rose $4.85 to reach a week's high of $92.43 per metric ton over Brent crude, buoyed by a steady supply from arbitrage exporters circumventing Russian supply disruptions. The crack last hit $97.88 on Aug. 22.

NEWS

Top oil exporter Saudi Arabia is expected to cut prices for most of the crude grades it sells to Asia in October after Middle East benchmark Dubai slumped last month. O/R

OPEC oil output fell in August to its lowest since January, as unrest that disrupted Libyan supply added to the impact of ongoing voluntary supply cuts by other members and the wider OPEC+ alliance. OPEC pumped 26.36 million barrels per day last month, down 340,000 bpd from July, the lowest total since January.

Brent oil prices declined on Tuesday as sluggish economic growth in China, the world's biggest crude importer, increased demand concerns. Brent crude futures LCOc1 fell 92 cents, to $76.62 a barrel. West Texas Intermediate crude CLc1 futures, which did not settle on Monday because of the U.S. Labor Day holiday, were down 25 cents, at $73.30.

SINGAPORE CASH DEALS O/AS

Five gasoline deals and one naphtha trade.

PRICES

CASH	ASIA CLOSE	Change	Prev Close	RIC
OSN Naphtha CFR Japan M1 ($/mt)	670.00	6.50	663.50	NAF-1H-TYO
OSN Naphtha CFR Japan M2 ($/mt)	664.00	6.50	657.50	NAF-2H-TYO
OSN Naphtha Diff ($/mt)	6.00	0.00	6.00	NAF-TYO-DIF
Naphtha Netback FOB Sing ($/bbl)	72.44	0.77	71.67	NAF-SIN
Naphtha Diff FOB Sing	0.40	0.00	0.40	NAF-SIN-DIF
Naphtha-Brent Crack ($/mt)	92.42	4.85	87.57	NAF-SIN-CRK
Gasoline 97 ($/bbl)	88.64	1.90	86.74	GL97-SIN
Gasoline 95 ($/bbl)	87.31	1.90	85.41	GL95-SIN
Gasoline 92 ($/bbl)	83.70	1.90	81.80	GL92-SIN
Gasoline crack ($/bbl)	6.69	1.68	5.01	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