Asia Naphtha/Gasoline-Gasoline steady near March highs, naphtha falls
NEW DELHI, July 4 (Reuters) -Asia's gasoline markets lingered near March highs on Thursday due to a larger-than-expected draw in U.S. inventories ahead of holiday weekend, but the upside was capped as Singapore stocks increased.
The crack traded at $8.20 per barrel over Brent crude compared with $8.14 a day earlier.
U.S. gasoline stocks USOILG=ECI fell by 2.2 million barrels last week to 231.7 million barrels, government data showed, compared with analysts' expectations in a Reuters poll for a 1.3 million-barrel draw.
Singapore light distillate stocks rose by 702,000 barrels to a four-week high of 15.509 million barrels on the week to July 3, Enterprise Singapore data showed.
In naphtha markets, the refining margin declined by about $2 to $74.75 per metric tons over Brent crude on Thursday.
A South Korean buyer snapped up the light distillate for August delivery this week, while a Chinese buyer sought rival feedstock propane for the same month, market sources said.
NEWS
- Russian gasoline exports by rail jumped by more than 70% in June from May to 423,101 metric tons after a ban on exports was waived, data from sources and Reuters calculations showed.
- Oil prices edged lower on Thursday, retreating from the previous session's multi-month highs, with investors taking profits as demand caution remained in focus despite last week's decline in U.S. inventories. O/R
- China has asked its state oil companies to add 8 million metric tons, or nearly 60 million barrels, of crude oil to the country's emergency stockpiles to boost supply security, according to analytics firm Vortexa and trading sources.
PRICES
CASH | ASIA CLOSE | Change | Prev Close | RIC |
OSN Naphtha CFR Japan M1 ($/mt) | 724.25 | -1.00 | 725.25 | NAF-1H-TYO |
OSN Naphtha CFR Japan M2 ($/mt) | 712.50 | -0.50 | 713.00 | NAF-2H-TYO |
OSN Naphtha Diff ($/mt) | 11.75 | -0.50 | 12.25 | NAF-TYO-DIF |
Naphtha Netback FOB Sing ($/bbl) | 78.47 | -0.06 | 78.53 | NAF-SIN |
Naphtha-Brent Crack ($/mt) | 74.75 | -2.05 | 76.80 | NAF-SIN-CRK |
Gasoline 97 ($/bbl) | 99.62 | 0.20 | 99.42 | GL97-SIN |
Gasoline 95 ($/bbl) | 98.01 | 0.20 | 97.81 | GL95-SIN |
Gasoline 92 ($/bbl) | 94.80 | 0.20 | 94.60 | GL92-SIN |
Gasoline crack ($/bbl) | 8.20 | 0.06 | 8.14 | 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 Mohi Narayan; Editing by Janane Venkatraman
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