Asia Naphtha/Gasoline-PSO seeks H1-Jan loading gasoline; naphtha margins inch down

Reuters
2024-11-22

SINGAPORE, Nov 22 (Reuters) - Asia's gasoline margins inched down on Friday as demand continues to be bearish, weighing down sentiments, in the midst of a lower export from China.

The crack dipped to $5.50 per barrel over Brent crude, from $5.71 on Thursday.

In tenders, Pakistan's PSO was seeking 92-octane gasoline for the loading period of Jan. 5-11, the company website listed. The tender closes on Dec. 2.

In naphtha, the margins inched down by $2.07 to $91.75.

The backwardation between first-half January and first-half February remained at $2.

NEWS

Oil prices held steady on Friday, on track for a weekly rise of 5%, as the Ukraine war intensified and Chinese imports were set to increase in November.

Oil loadings from Russia's western ports in December are expected to slip by some 100,000 barrels per day (bpd) to 1.8 million bpd amid rising refinery runs, according to three market sources and Reuters calculations.

SINGAPORE CASH DEALS

Five gasoline deals and no naphtha trade.

PRICES

CASH ASIA CLOSE Change Prev Close RIC

OSN Naphtha CFR Japan M1 652.75 7.00 645.75

($/mt)

OSN Naphtha CFR Japan M2 650.75 7.00 643.75

($/mt)

OSN Naphtha Diff ($/mt) 2.00 0.00 2.00 <NAF-TYO-DIF

>

Naphtha Netback FOB Sing 70.53 0.83 69.70

($/bbl)

Naphtha Diff FOB Sing 0.40 0.00 0.40 <NAF-SIN-DIF

>

Naphtha-Brent Crack 91.75 -2.07 93.82 <NAF-SIN-CRK

($/mt) >

Gasoline 97 ($/bbl) 85.34 1.00 84.34

Gasoline 95 ($/bbl) 86.00 1.00 85.00

Gasoline 92 ($/bbl) 80.30 1.00 79.30

Gasoline crack ($/bbl) 5.50 -0.21 5.71 <GL92-SIN-CR

K>

For a list of derivatives prices, including margins, please double click the

RICs below.

Brent M1

Naphtha CFR Japan M1 <NACFRJPSWMc1

>

Naphtha CFR Japan M1/M2 <NACFRJPSDMc1

>

Naphtha CFR Japan M2 <NACFRJPSWMc2

>

Naphtha Japan-Sing <NAPTC4SPDMc1

Netback M1 >

Naphtha Japan-Sing <NAPTC4SPDMc2

Netback M2 >

Naphtha FOB Sing M1 <NAFOBSGSWMc1

>

Naphtha FOB Sing M1/M2 <NAFOBSGSDMc1

>

Naphtha FOB Sing M2 <NAFOBSGSWMc2

>

Naphtha Cracks M1 <NACFRJPCKMc1

>

East-West Naphtha M1

East-West Naphtha M2

NWE Naphtha M1

NWE Naphtha M1/M2 <NAPCNWEASMc1

>

NWE Naphtha M2

Crack NWE Naphtha-Brent <NAPCNWEACMc1

M1 >

Crack NWE Naphtha-Brent <NAPCNWEACMc2

M2 >

*Sing refers to

Singapore

(Reporting by Haridas; Editing by Krishna Chandra Eluri)

((Haridas.X@thomsonreuters.com;))

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