Asia Naphtha/Gasoline-Naphtha margin stable; gasoline gains

ReutersApr 23, 2025 10:52 AM

NEW DELHI, April 23 (Reuters) - Asia's naphtha refining profit margin was steady on Wednesday after window activity remained thin for a fourth straight session, but backwardation was on a widening trend, signaling supplies could be tight again.

The crack traded at about $83 per ton over Brent crude. The price for first-half June cargo rose to $595.75 per ton and traded $9 higher than the first-half July naphtha.

South Korean buyers were active in the market this week, trade sources said, while Indian sellers have been offering May supplies for naphtha.

In the gasoline market, the crack was buoyed by demand from Mexico. Three Asian cargoes are discharging in Mexico next month, according to LSEG ship-tracking data.

NEWS

- Oil prices climbed more than 1% on Wednesday, as investors weighed a fresh round of U.S. sanctions on Iran, a drop in U.S. crude stocks, and a softer tone from President Donald Trump towards the Federal Reserve and his tariff war with China. O/R

- Taiwan supplied for the first time a blend of sustainable aviation fuel (SAF) to refuel planes owned by three domestic carriers at several airports across the country, the Civil Aviation Administration said on Wednesday.

SINGAPORE CASH DEALS O/AS

No trades.

PRICES

CASH	ASIA CLOSE	Change	Prev Close	RIC
OSN Naphtha CFR Japan M1 ($/mt)	595.75	13.50	582.25	NAF-1H-TYO
OSN Naphtha CFR Japan M2 ($/mt)	586.75	13.00	573.75	NAF-2H-TYO
OSN Naphtha Diff ($/mt)	9.00	0.50	8.50	NAF-TYO-DIF
Naphtha Netback FOB Sing ($/bbl)	64.19	1.50	62.69	NAF-SIN
Naphtha-Brent Crack ($/mt)	82.75	3.90	78.85	NAF-SIN-CRK
Gasoline 97 ($/bbl)	79.16	2.20	76.96	GL97-SIN
Gasoline 95 ($/bbl)	78.37	2.20	76.17	GL95-SIN
Gasoline 92 ($/bbl)	78.00	2.20	75.80	GL92-SIN
Gasoline crack ($/bbl)	9.60	0.92	8.68	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

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.