SINGAPORE, Nov 20 (Reuters) - Asia's gasoline margins rose for the fourth consecutive session on Wednesday as demand increased with regional refineries returning online after their turnarounds.
The crack climbed to $5.79 per barrel over Brent crude, its highest since Nov. 6.
Naphtha crack improved to a one-week high of $90.43 per metric ton over Brent crude, its highest since Nov. 13.
Demand for naphtha is expected to rise in the coming week as two new crackers in China, with a combined capacity of 2.7 million metric tons per year, begin commercial operations.
INVENTORIES
Singapore's light distillate stocks rose by 326,000 barrels to a three-week high of 18.349 million barrels in the week ended Nov. 13, data by Enterprise Singapore showed.
U.S. gasoline inventories fell 2.48 million barrels, and distillate stocks dropped 688,000 barrels, market sources said, citing American Petroleum Institute figures on Tuesday.
NEWS
Oil was broadly stable for a second day on Wednesday as concerns about escalating hostilities in the Ukraine war potentially disrupting oil supply from Russia and signs of growing Chinese crude imports offset data showing U.S. crude stocks rising.
SINGAPORE CASH DEALS
Five gasoline deals and no naphtha trade.
PRICES
CASH ASIA CLOSE Change Prev Close RIC
OSN Naphtha CFR Japan M1 642.50 10.50 632.00
($/mt)
OSN Naphtha CFR Japan M2 640.50 10.00 630.50
($/mt)
OSN Naphtha Diff ($/mt) 2.00 0.50 1.50 > Naphtha Netback FOB Sing 69.39 1.22 68.17 ($/bbl) Naphtha Diff FOB Sing 0.40 0.00 0.40 > Naphtha-Brent Crack 90.42 7.19 83.23 ($/mt) > Gasoline 97 ($/bbl) 84.44 0.80 83.64 Gasoline 95 ($/bbl) 85.10 0.80 84.30 Gasoline 92 ($/bbl) 79.40 0.80 78.60 Gasoline crack ($/bbl) 5.79 0.36 5.43 K> For a list of derivatives prices, including margins, please double click the RICs below. Brent M1 Naphtha CFR Japan M1 Naphtha CFR Japan M1/M2 Naphtha CFR Japan M2 Naphtha Japan-Sing Netback M1 Naphtha Japan-Sing Netback M2 Naphtha FOB Sing M1 Naphtha FOB Sing M1/M2 Naphtha FOB Sing M2 Naphtha Cracks M1 East-West Naphtha M1 East-West Naphtha M2 NWE Naphtha M1 NWE Naphtha M1/M2 NWE Naphtha M2 Crack NWE Naphtha-Brent M1 Crack NWE Naphtha-Brent M2 *Sing refers to Singapore (Reporting by Haridas; Editing by Sherry Jacob-Phillips) ((Haridas.X@thomsonreuters.com;))
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