Asia Naphtha/Gasoline-Naphtha prices rise, supported by Chinese buying
NEW DELHI, Jan 12 (Reuters) - Asia's naphtha prices extended last week's gains on Monday amid strong buying interest from China for second-half February cargoes, traders said.
The price for second-half February naphtha rose by about $10 to $562.75 per ton and it traded $3.50 a ton higher than second-half March naphtha in backwardation structure.
CNOOC and Unipec surfaced in spot market in recent days to buy volumes for second-half February at a premium of $1-$4 per ton to second-half January quotes on cost and freight basis, market participants said.
The refining profit margin for naphtha was up slightly at $88.53 a ton over Brent crude from $84.55 in the previous session.
NEWS
- Commodities trader Vitol is expected to load the first cargo of naphtha from the U.S. to Venezuela this weekend under a new supply agreement announced just days ago by President Donald Trump, two sources familiar with the matter told Reuters on Saturday.
- At least six oil tankers, most of them loaded, that had departed Venezuela in early January in 'dark mode' - or with their transponders off amid a strict U.S. blockade - are now back in the South American country's waters, according to state company PDVSA and monitoring service TankerTrackers.com.
SINGAPORE CASH DEALS O/AS
One gasoline trade.
PRICES
CASH |
ASIA CLOSE |
Change |
Prev Close |
RIC |
OSN Naphtha CFR Japan M1 ($/mt) |
562.75 |
9.75 |
553.00 |
NAF-1H-TYO |
OSN Naphtha CFR Japan M2 ($/mt) |
559.25 |
9.75 |
549.50 |
NAF-2H-TYO |
OSN Naphtha Diff ($/mt) |
3.50 |
0.00 |
3.50 |
NAF-TYO-DIF |
Naphtha Netback FOB Sing ($/bbl) |
60.53 |
1.08 |
59.44 |
NAF-SIN |
Naphtha-Brent Crack ($/mt) |
88.53 |
3.98 |
84.55 |
NAF-SIN-CRK |
Gasoline 97 ($/bbl) |
75.05 |
-0.20 |
75.25 |
GL97-SIN |
Gasoline 95 ($/bbl) |
72.80 |
-0.20 |
73.00 |
GL95-SIN |
Gasoline 92 ($/bbl) |
71.80 |
-0.20 |
72.00 |
GL92-SIN |
Gasoline crack ($/bbl) |
8.57 |
-0.97 |
9.54 |
GL92-SIN-CRK |
For a list of derivatives prices, including margins, please double click the RICs below. |
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Brent M1 |
BRENTSGMc1 |
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Naphtha CFR Japan M1 |
NACFRJPSWMc1 |
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Naphtha CFR Japan M1/M2 |
NACFRJPSDMc1 |
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Naphtha CFR Japan M2 |
NACFRJPSWMc2 |
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Naphtha Japan-Sing Netback M1 |
NAPTC4SPDMc1 |
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Naphtha Japan-Sing Netback M2 |
NAPTC4SPDMc2 |
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Naphtha FOB Sing M1 |
NAFOBSGSWMc1 |
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Naphtha FOB Sing M1/M2 |
NAFOBSGSDMc1 |
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Naphtha FOB Sing M2 |
NAFOBSGSWMc2 |
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Naphtha Cracks M1 |
NACFRJPCKMc1 |
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East-West Naphtha M1 |
NAPJPEWMc1 |
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East-West Naphtha M2 |
NAPJPEWMc2 |
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NWE Naphtha M1 |
NAPCNWEAMc1 |
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NWE Naphtha M1/M2 |
NAPCNWEASMc1 |
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NWE Naphtha M2 |
NAPCNWEAMc2 |
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Crack NWE Naphtha-Brent M1 |
NAPCNWEACMc1 |
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Crack NWE Naphtha-Brent M2 |
NAPCNWEACMc2 |
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*Sing refers to Singapore |
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(Reporting by Mohi Narayan)
((Mohi.Narayan@thomsonreuters.com; https://twitter.com/_mohi_;))