Gasoline crack rises on firm demand
Asia's gasoline margin climbed on Wednesday as firm demand from key importers such as Indonesia kept the market supported, while inventories at key trading hubs remained low.The crack rose to about $38 per barrel over Brent crude from around $36 a day earlier. Price of benchmark-grade fuel traded a…
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NEW DELHI, Sept 30 (Reuters) — Asia's gasoline margin climbed on Wednesday as firm demand from key importers such as Indonesia kept the market supported, while inventories at key trading hubs remained low. The crack rose to about $38 per barrel over Brent crude from around $36 a day earlier. Price of benchmark-grade fuel traded at $140.65 a barrel. A fire broke out at the coker hydrotreater unit of India's Mangalore Refinery and Petrochemicals Ltd (MRPL) on Wednesday and one person was injured in the incident, a spokesperson said. The refinery cancelled an export tender for reformate loading end-October, the company said in three separate notices to traders. In gasoline tenders, a Vietnamese buyer awarded three cargoes for October delivery at a premium of $15 to Singapore quotes, traders said. News - Construction begins on Wednesday of a $16 billion Kenyan oil refinery aimed at lowering East Africa's fuel costs and saving the region hard currency used to import refined products. - Oil prices rose on Wednesday and were on track for a big monthly gain as US-Iran talks aimed at ending their war stalled and tight fuel markets continued to underpin prices despite recovering Middle East crude supplies. O/R Singapore Cash Deals O/AS One gasoline trade. Prices CASH ASIA Chan Prev RIC CLOSE ge Close OSN Naphtha CFR 901.00 2.25 898.75 OSN Naphtha CFR 881.00 11.0 870.00 OSN Naphtha Diff 20.00 -8.7 28.75 Naphtha Netback 98.11 0.25 97.86 Naphtha-Brent 129.93 25.2 104.73 Gasoline 97 148.11 0.25 147.86 Gasoline 95 147.10 0.25 146.85 Gasoline 92 140.65 0.25 140.40 Gasoline crack 37.84 3.31 34.53 For a list of derivatives prices, including margins, please double click the RICs below. Brent M1 Naphtha CFR Japan Naphtha CFR Japan Naphtha CFR Japan Naphtha Netback M1 Naphtha Netback M2 Naphtha FOB Sing Naphtha FOB Sing Naphtha FOB Sing Naphtha Cracks M1 East-West Naphtha East-West Naphtha NEW Naphtha M1 NEW Naphtha M1/M2 NEW Naphtha M2 Crack NEW Crack NEW Sing refers to Singapore (Reporting by Mohi Narayan; Editing by Diti Pujara) ((Mohi.Narayan@thomsonreuters.com; )