Asia Naphtha/Gasoline — Naphtha market rangebound, backwardation widens
NEW DELHI, Oct 16 (Reuters) — Asia's naphtha market remained rangebound this week, with prices trading above $1,000 per metric ton for a fourth consecutive session on Friday, as soaring freight costs kept a lid on barrels coming from the West, traders and analysts said. The price for first-half December cargo stood at $1,002 per ton, while the refining margin traded at around $214 a ton over Brent crude. The backwardation price structure widened to $34 per ton from $31 a day earlier. In tenders, South Korean and Japanese buyers snapped up November and December cargoes this week, market participants said. In the gasoline market, the crack fell nearly 42% this week amid normalising supplies from China, analysts said. News - Russia has publicly acknowledged a Ukrainian drone strike on a major oil refinery this week and broadcast images on state media, breaking with its usual practice in order to highlight an attack that US President Donald Trump has branded a "disgrace". - Iran has managed to export some liquefied petroleum gas and jet fuel since July, despite a US naval blockade, shipping intelligence showed and people involved in security said. Singapore Cash Deals O/AS Five gasolin
NEW DELHI, Oct 16 (Reuters) — Asia's naphtha market remained rangebound this week, with prices trading above $1,000 per metric ton for a fourth consecutive session on Friday, as soaring freight costs kept a lid on barrels coming from the West, traders and analysts said. The price for first-half December cargo stood at $1,002 per ton, while the refining margin traded at around $214 a ton over Brent crude. The backwardation price structure widened to $34 per ton from $31 a day earlier. In tenders, South Korean and Japanese buyers snapped up November and December cargoes this week, market participants said.
In the gasoline market, the crack fell nearly 42% this week amid normalising supplies from China, analysts said. News - Russia has publicly acknowledged a Ukrainian drone strike on a major oil refinery this week and broadcast images on state media, breaking with its usual practice in order to highlight an attack that US President Donald Trump has branded a "disgrace". - Iran has managed to export some liquefied petroleum gas and jet fuel since July, despite a US naval blockade, shipping intelligence showed and people involved in security said. Singapore Cash Deals O/AS Five gasoline trades.
Prices CASH ASIA Chan Prev RIC CLOSE ge Close OSN Naphtha CFR 1002.00 -14. 1016.5 OSN Naphtha CFR 968.00 -17. 985.50 OSN Naphtha Diff 34.00 3.00 31.00 Naphtha Netback 109.33 -1.6 110.94 Naphtha-Brent 214.28 -24. 238.90 Gasoline 97 135.54 -2.9 138.50 Gasoline 95 134.72 -2.9 137.68 Gasoline 92 129.20 -2.9 132.16 Gasoline crack 24.17 -4.3 28.48 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 NWE Naphtha M1 NWE Naphtha M1/M2 NWE Naphtha M2 Crack NWE Crack NWE Sing refers to Singapore (Reporting by Mohi Narayan; Editing by Sonia Cheema) ((Mohi.Narayan@thomsonreuters.com; )