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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