NEW DELHI, Feb 13 (Reuters) - Asia's gasoline refining margin tanked on Friday amid weak demand as Singapore and U.S. trading hubs registered a rise in inventories earlier this week. EIA/S O/SING1
The crack shrank to about $4 per barrel over Brent crude from $6.06 a day earlier. Gasoline margin fell about 21% this week.
Arrivals from China and South Korea have risen in January, while demand for the fuel has been lower than expected, analysts and traders said.
In the naphtha market, the crack was down about $1 at $98.65 per metric ton over Brent on Friday.
NEWS
- The United States has issued a general licence to India's Reliance Industries Ltd that will allow the refiner to buy Venezuelan oil directly without violating sanctions, two sources familiar with the matter said.
- Saudi-backed Midad Energy has signed a term sheet to acquire Russia's sanctioned Lukoil assets in a high-stakes contest against rivals including private equity giant Carlyle Group, with the deal contingent on U.S. regulatory approval, according to three people familiar with the matter.
SINGAPORE CASH DEALS O/AS
One gasoline trade.
PRICES
CASH | ASIA CLOSE | Change | Prev Close | RIC |
OSN Naphtha CFR Japan M1 ($/mt) | 604.75 | -17.00 | 621.75 | NAF-1H-TYO |
OSN Naphtha CFR Japan M2 ($/mt) | 591.50 | -17.00 | 608.50 | NAF-2H-TYO |
OSN Naphtha Diff ($/mt) | 13.25 | 0.00 | 13.25 | NAF-TYO-DIF |
Naphtha Netback FOB Sing ($/bbl) | 65.19 | -1.89 | 67.08 | NAF-SIN |
Naphtha-Brent Crack ($/mt) | 98.65 | -1.02 | 99.68 | NAF-SIN-CRK |
Gasoline 97 ($/bbl) | 74.78 | -4.18 | 78.96 | GL97-SIN |
Gasoline 95 ($/bbl) | 73.22 | -4.18 | 77.40 | GL95-SIN |
Gasoline 92 ($/bbl) | 71.49 | -4.18 | 75.67 | GL92-SIN |
Gasoline crack ($/bbl) | 4.01 | -2.05 | 6.06 | 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 | |||
NEW Naphtha M1 | NAPCNWEAMc1 | |||
NEW Naphtha M1/M2 | NAPCNWEASMc1 | |||
NEW Naphtha M2 | NAPCNWEAMc2 | |||
Crack NEW Naphtha-Brent M1 | NAPCNWEACMc1 | |||
Crack NEW Naphtha-Brent M2 | NAPCNWEACMc2 | |||
*Sing refers to Singapore | ||||
(Reporting by Mohi Narayan; Editing by Diti Pujara)
((Mohi.Narayan@thomsonreuters.com; https://twitter.com/_mohi_;))