Asia Naphtha/Gasoline-Gasoline crack rallies; naphtha crack falls to 6-week low
Nov 8 (Reuters) -Asia's gasoline margins rallied on Friday after dipping in the previous session, amid improvements in refining margins and overall reduced exports from China.
The crack dipped to $4.62 per barrel over Brent crude from $4.40 on Thursday.
Regional traders shared that while they are optimistic on the massive economic stimulus package unveiled by China, they do not forsee an increase in Chinese gasoline exports.
In naphtha, the margins dipped to a six-week low of $101.40, its lowest since Sept. 26.
The backwardation between second-half December and second-half January narrowed to $6.
INVENTORIES
Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rise to 1.122 million metric tons from prior week's 1.093 million tons, in the week ended Nov. 7 data from Dutch consultancy Insights Global showed. Naphtha stocks roseto 568,000 tons from preivous week's 537,000 tons, the data showed. [ara/]
NEWS
Oil prices fell slightly, amid concerns over a hurricane in the Gulf of Mexico expected to significantly affect U.S. oil and a decline in gas output, while the market weighed how President-elect Donald Trump's policies might affect supplies. O/R
Global oil prices are expected to stay in the $70 to $80 per barrel range in 2025, similar to 2024, while geopolitical risks create uncertainty around supply, Russell Hardy, CEO of Vitol, the world's largest independent oil trader, said on Thursday.
SINGAPORE CASH DEALS O/AS
Four gasoline deals and two naphtha trade.
PRICES
CASH | ASIA CLOSE | Change | Prev Close | RIC |
OSN Naphtha CFR Japan M1 ($/mt) | 663.00 | -6.00 | 669.00 | NAF-1H-TYO |
OSN Naphtha CFR Japan M2 ($/mt) | 657.00 | -5.75 | 662.75 | NAF-2H-TYO |
OSN Naphtha Diff ($/mt) | 6.00 | -0.25 | 6.25 | NAF-TYO-DIF |
Naphtha Netback FOB Sing ($/bbl) | 71.67 | -0.61 | 72.28 | NAF-SIN |
Naphtha Diff FOB Sing | 0.40 | 0.00 | 0.40 | NAF-SIN-DIF |
Naphtha-Brent Crack ($/mt) | 101.40 | -5.48 | 106.88 | NAF-SIN-CRK |
Gasoline 97 ($/bbl) | 84.54 | 0.15 | 84.39 | GL97-SIN |
Gasoline 95 ($/bbl) | 85.10 | 0.15 | 84.95 | GL95-SIN |
Gasoline 92 ($/bbl) | 79.50 | 0.15 | 79.35 | GL92-SIN |
Gasoline crack ($/bbl) | 4.62 | 0.22 | 4.40 | 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 Rashmi Aich
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