Asia Naphtha/Gasoline-Gasoline crack continues fall, naphtha crack hits six-month high

Sept 12 (Reuters) - Asia's gasoline margins extended their fall on stubbornly poor demand.

SKEISG emerged as the sole buyer of the benchmark grade of octane, snapping up 150,000 barrels all of which were purchased from AramcoSG.

The crack dipped to $4.70 per barrel above Brent crude, from $4.93 on Wednesday.

In naphtha market, the crack reached a six-month high to hit $103.75 per metric ton over Brent crude. It last traded at $106.05 on Mar. 13, 2024.

INVENTORIES

Singapore light distillates stocks fell 771,000 barrels to four week low of 15.099 million barrels in week to Sept. 11, data from Enterprise Singapore showed.

U.S. Gasoline stocks rose by 2.3 million barrels in the week to 221.6 million barrels in the week ending Sept. 6, while distillate stockpiles , rose by 2.3 million barrels in the week to 125 million barrel, the Energy Information Administration said.

NEWS

Oil prices rose more than 1% on Thursday, extending a rebound spurred by concern over Hurricane Francine's impact on U.S. output. Brent crude futures

for November rose $1.01 to $71.62 a barrel. U.S. crude futures for October were up $1 at $68.31.

SINGAPORE CASH DEALS O/AS

Three gasoline deals and no naphtha trade.

PRICES

CASH ASIA CLOSE Change Prev Close RIC

OSN Naphtha CFR Japan M1 640.75 15.00 625.75

($/mt)

OSN Naphtha CFR Japan M2 635.25 15.00 620.25

($/mt)

OSN Naphtha Diff ($/mt) 5.50 0.00 5.50 <NAF-TYO-DIF

>

Naphtha Netback FOB Sing 69.19 1.71 67.48

($/bbl)

Naphtha Diff FOB Sing 0.40 0.00 0.40 <NAF-SIN-DIF

>

Naphtha-Brent Crack 103.75 6.15 97.60 <NAF-SIN-CRK

($/mt) >

Gasoline 97 ($/bbl) 81.24 0.95 80.29

Gasoline 95 ($/bbl) 80.90 0.95 79.95

Gasoline 92 ($/bbl) 76.30 0.95 75.35

Gasoline crack ($/bbl) 4.70 -0.23 4.93 <GL92-SIN-CR

K>

For a list of derivatives prices, including margins, please double click the

RICs below.

Brent M1

Naphtha CFR Japan M1 <NACFRJPSWMc1

>

Naphtha CFR Japan M1/M2 <NACFRJPSDMc1

>

Naphtha CFR Japan M2 <NACFRJPSWMc2

>

Naphtha Japan-Sing <NAPTC4SPDMc1

Netback M1 >

Naphtha Japan-Sing <NAPTC4SPDMc2

Netback M2 >

Naphtha FOB Sing M1 <NAFOBSGSWMc1

>

Naphtha FOB Sing M1/M2 <NAFOBSGSDMc1

>

Naphtha FOB Sing M2 <NAFOBSGSWMc2

>

Naphtha Cracks M1 <NACFRJPCKMc1

>

East-West Naphtha M1

East-West Naphtha M2

NWE Naphtha M1

NWE Naphtha M1/M2 <NAPCNWEASMc1

>

NWE Naphtha M2

Crack NWE Naphtha-Brent <NAPCNWEACMc1

M1 >

Crack NWE Naphtha-Brent <NAPCNWEACMc2

M2 >

*Sing refers to

Singapore

(Reporting by Haridas Editing by David Goodman)

((Haridas.X@thomsonreuters.com;))