Asia Naphtha/Gasoline-Gasoline gains, Taiwan's CPC offers May reformate

Reuters
04-16
Asia Naphtha/Gasoline-Gasoline gains, Taiwan's CPC offers May reformate

NEW DELHI, April 16 (Reuters) - Asia's gasoline refining profit margin rose on Wednesday, after a flurry of trades at the deals window lifted market sentiment.

The crack rose to $8.74 per barrel over Brent crude, up from $7.05 a day earlier. A total of 300,000 barrels of benchmark-grade of gasoline was traded at the window, while 100,000 barrels each of the higher 95-octane and 97-octane grade of the fuel changed hands.

In tenders, Taiwan's CPC offered 18,000 tons of reformate for May loading from Kaohsiung port, the company said in a document. The tender closes on April 21.

The naphtha crack, on the other hand, declined by about $11 to $70.05 per metric ton over Brent crude.

NEWS

- China's oil refinery throughput edged up 0.4% in March from a high base a year earlier, data showed on Wednesday, supported by production increases at small independent plants and higher operations at a new plant.

- Oil prices fell on Wednesday as shifting U.S. tariff policies and the U.S.-China trade war prompt traders to consider the potential impact on economic growth and energy demand. O/R

- Australia's top fuel retailer Ampol reported a 49% drop in first-quarter refining margins for its Lytton refinery in Queensland on Wednesday, citing lost production due to Cyclone Alfred and weak refining margins in Singapore — a bellwether for Asia.

SINGAPORE CASH DEALS O/AS

Five gasoline trades and two naphtha deals.

PRICES

CASH

ASIA CLOSE

Change

Prev Close

RIC

OSN Naphtha CFR Japan M1 ($/mt)

558.00

-10.25

568.25

NAF-1H-TYO

OSN Naphtha CFR Japan M2 ($/mt)

552.00

-9.00

561.00

NAF-2H-TYO

OSN Naphtha Diff ($/mt)

6.00

-1.25

7.25

NAF-TYO-DIF

Naphtha Netback FOB Sing ($/bbl)

60.00

-1.14

61.14

NAF-SIN

Naphtha-Brent Crack ($/mt)

70.05

-11.08

81.13

NAF-SIN-CRK

Gasoline 97 ($/bbl)

74.96

0.61

74.35

GL97-SIN

Gasoline 95 ($/bbl)

74.17

0.61

73.56

GL95-SIN

Gasoline 92 ($/bbl)

73.80

1.80

72.00

GL92-SIN

Gasoline crack ($/bbl)

8.74

1.69

7.05

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 Shilpi Majumdar)

((Mohi.Narayan@thomsonreuters.com; https://twitter.com/_mohi_;))

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