NEW DELHI, Dec 1 (Reuters) - Asia's gasoline refining profit margin jumped on Monday after a flurry of trades at the Singapore window lifted demand sentiment, market participants said.
The crack climbed to $16.31 per barrel over Brent crude from $14.71 in the previous session.
In tenders, a Taiwanese exporter was heard to have sold late-December supplies of 92-octane grade of transport fuel last week, trade sources said. South Korean Lotte Chemical was heard to have snapped up naphtha supplies for first-half January, they added.
In naphtha market, the crack fell by about $1 to $96.85 per metric ton over Brent crude on Monday. The backwardation between second-half January and second-half February naphtha prices stood at $8 a ton.
NEWS
U.S. oil major Chevron said late on Sunday that loadings of its Tengizchevroil venture's crude oil were continuing at the Russian port of Novorossiysk following a Ukrainian naval drone attack which heavily damaged key equipment.
Oil prices climbed 2% on Monday after OPEC+ members reaffirmed a plan to hold output steady and as the Caspian Pipeline Consortium halted exports after a major drone attack and U.S.-Venezuela tensions raised concerns about supply. O/R
SINGAPORE CASH DEALS O/AS
Six gasoline trades.
PRICES
CASH | ASIA CLOSE | Change | Prev Close | RIC | |
OSN Naphtha CFR Japan M1 ($/mt) | 573.25 | -2.75 | 576.00 | ||
OSN Naphtha CFR Japan M2 ($/mt) | 565.25 | -4.00 | 569.25 | ||
OSN Naphtha Diff ($/mt) | 8.00 | 1.25 | 6.75 | ||
Naphtha Netback FOB Sing ($/bbl) | 61.69 | -0.31 | 62.00 | ||
Naphtha-Brent Crack ($/mt) | 96.85 | -1.18 | 98.03 | ||
Gasoline 97 ($/bbl) | 82.82 | 1.21 | 81.61 | ||
Gasoline 95 ($/bbl) | 82.45 | 1.15 | 81.30 | ||
Gasoline 92 ($/bbl) | 79.65 | 1.21 | 78.44 | ||
Gasoline crack ($/bbl) | 16.13 | 1.42 | 14.71 | ||
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 Shailesh Kuber)
((Mohi.Narayan@thomsonreuters.com))