Asia Naphtha/Gasoline — Naphtha prices gain tracking Brent rise
NEW DELHI, Sept 24 (Reuters) — Asia's naphtha prices rose on Thursday, in line with crude oil benchmarks, as supplies from the Middle East remained scarce, traders said. The price for first-half November cargo rose by $11.50 to about $927 per metric ton. The crack for naphtha declined to about $131 per ton over Brent crude. In the gasoline market, the crack remained firm at around $37 per barrel over Brent crude amid strong demand and tight supplies. Asia's largest buyer Indonesia sought more gasoline of 90-octane grade and benchmark grade for November delivery, market participants said. They sought several cargoes earlier this month for October delivery. MOG/TENDA Inventories O/SING1 Light distillates stocks, including naphtha and gasoline, fell to a three-week low of 11.78 million barrels in the week to September 23, Enterprise Singapore data showed. Naphtha imports stood at about 268,000 tons (approximately 2.4 million barrels), led by Russia at nearly 148,000 tons, followed by Kuwait at around 29,000 tons. Singapore exported about 17,000 tons of naphtha, with all shipments destined for Indonesia. News - Oil prices rose more than 2% on Thursday as diplomatic talks between the US
NEW DELHI, Sept 24 (Reuters) — Asia's naphtha prices rose on Thursday, in line with crude oil benchmarks, as supplies from the Middle East remained scarce, traders said. 50 to about $927 per metric ton. The crack for naphtha declined to about $131 per ton over Brent crude. In the gasoline market, the crack remained firm at around $37 per barrel over Brent crude amid strong demand and tight supplies.
Asia's largest buyer Indonesia sought more gasoline of 90-octane grade and benchmark grade for November delivery, market participants said. They sought several cargoes earlier this month for October delivery. 78 million barrels in the week to September 23, Enterprise Singapore data showed. 4 million barrels), led by Russia at nearly 148,000 tons, followed by Kuwait at around 29,000 tons.
Singapore exported about 17,000 tons of naphtha, with all shipments destined for Indonesia. News - Oil prices rose more than 2% on Thursday as diplomatic talks between the US and Iran showed little sign of progress, while investors focused on uncertainty about a potential US ban on diesel exports. O/R - China's gasoline and diesel inventories have fallen to their lowest levels in more than a decade as exports surge and domestic demand recovers seasonally, according to GL Consulting. Singapore Cash Deals O/AS No trades.
13 -36. 04 For a list of derivatives prices, including margins, please double click the RICs below. com; )