Asia Naphtha/Gasoline-Naphtha prices pare gains mirroring Brent
NEW DELHI, March 10 (Reuters) - Asia's naphtha prices eased on Tuesday as crude oil benchmarks pared some gains, although market remained widely backwardated at about $72 per ton amid several force majeures declared in the region due to constrained feedstock supplies from the Gulf.
The refining margin for naphtha also came off multi-year highs but traded firm at $214.20 per metric ton over Brent crude. Second-half April naphtha cargo traded at $897 per ton.
The region's top petrochemical sellers Sumitomo Chemical Asia and Formosa have cited feedstock disruption to their customers to suspend some of the product supply, traders said.
Mitsui Chemical has cut ethylene output due to lower naphtha supplies from Strait of Hormuz, they added.
NEWS
- Iran's Revolutionary Guards said they would not let any oil out of the Middle East until U.S. and Israeli attacks cease, prompting U.S. President Donald Trump to threaten to hit Iran "twenty times harder" if it blocked exports.
- Oil prices plummeted 7% after soaring to a more than three-year high in the previous session as U.S. President Donald Trump predicted the war in the Middle East could end soon, easing concerns about prolonged disruptions to oil supplies. O/R
SINGAPORE CASH DEALS O/AS
No trades.
PRICES
CASH | ASIA CLOSE | Change | Prev Close | RIC |
OSN Naphtha CFR Japan M1 ($/mt) | 897.00 | -148.25 | 1045.25 | NAF-1H-TYO |
OSN Naphtha CFR Japan M2 ($/mt) | 825.00 | -148.25 | 973.25 | NAF-2H-TYO |
OSN Naphtha Diff ($/mt) | 72.00 | 0.00 | 72.00 | NAF-TYO-DIF |
Naphtha Netback FOB Sing ($/bbl) | 97.67 | -16.47 | 114.14 | NAF-SIN |
Naphtha-Brent Crack ($/mt) | 214.20 | -19.70 | 233.90 | NAF-SIN-CRK |
Gasoline 97 ($/bbl) | 118.88 | -17.00 | 135.88 | GL97-SIN |
Gasoline 95 ($/bbl) | 117.67 | -17.00 | 134.67 | GL95-SIN |
Gasoline 92 ($/bbl) | 113.00 | -17.00 | 130.00 | GL92-SIN |
Gasoline crack ($/bbl) | 21.96 | 0.14 | 21.82 | GL92-SIN-CRK |
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For a list of derivatives prices, including margins, please double click the RICs below. | ||||
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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NEW Naphtha M1 | NAPCNWEAMc1 |
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NEW Naphtha M1/M2 | NAPCNWEASMc1 |
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NEW Naphtha M2 | NAPCNWEAMc2 |
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Crack NEW Naphtha-Brent M1 | NAPCNWEACMc1 |
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Crack NEW Naphtha-Brent M2 | NAPCNWEACMc2 |
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*Sing refers to Singapore |
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