Asia Naphtha/Gasoline-Cracks recover; IOC delays sale of naphtha By Reuters


Asia Naphtha/Gasoline-Cracks recover; IOC delays sale of naphtha

SINGAPORE, July 17 (Reuters) – Asia’s naphtha crack recovered to a two-session high of $27.40 a tonne after falling to a 2-1/2 week low in the previous session as weaker prices gave refiners some reprieve.

– Gasoline crack also recovered to a two-session high of $7.57 a barrel.

– Fundamentals of petrol have been much stronger compared to a month ago when margins were below $2 a barrel. Gasoline inventories in the U.S. is expected to have fallen for the fifth straight week, an extended Reuters poll showed on Tuesday. TENDERS: Indian Oil Corp (NS:) has extended the validity of its sales tender for a 27,000-tonnes cargo scheduled for Aug 3-5 loading from Chennai by two days to July 18.

– IOC had previously sold two cargoes for July loading to Vitol at premiums within the mid to high teens a tonne level to its own price formula on a free-on-board (FOB) basis. NAP/TENDA

– China’s WEPEC was looking to sell up to 36,000 tonnes of gasoline for Aug. 24-26 loading from Dalian but results were not immediately clear.

– India’s MRPL on the other hand has offered 25,000 tonnes of 95-octane grade gasoline for Aug. 14-16 loading through a tender closing on July 23, with bids to stay valid until July 24.

* CASH DEALS: Two gasoline deals and one on naphtha. O/AS

* REFINERY NEWS: Japan’s JXTG Nippon Oil & Energy Corp has restarted a 145,000 barrels-per-day (bpd) crude distillation unit (CDU) at its Sendai refinery on Tuesday after completing scheduled maintenance. DISTILLATES

2019

CASH ($/T)

ASIA CLOSE

Change

% Change Prev

RIC

Close

OSN Naphtha CFR Japan M1

514.00

-9.50

-1.81 523.50

> OSN Naphtha CFR Japan M2

512.50

-10.50

-2.01 523.00

> OSN Naphtha Diff

1.50

1.00

37.50

0.50

F> Naphtha Netback FOB Sing

55.35

-1.05

-1.86

56.40 NAF-SIN Naphtha Diff FOB Sing

0.05

-0.05

-50.00

0.10

F> Naphtha-Brent Crack

27.40

2.50

10.04

24.90

K> Gasoline 97

76.90

-0.95

-1.22

77.85 GL97-SIN Gasoline 95

75.00

-0.95

-1.25

75.95 GL95-SIN Gasoline 92

72.45

-1.25

-1.70

73.70 GL92-SIN Gasoline crack

7.57

0.35

4.85

7.22

RK>

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

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