Asia Naphtha/Gasoline-Gasoline crack rises for a second session

Reuters09-17

Sept 17 (Reuters) - Asia's gasoline margins rose for a second consecutive session on Tuesday as supply is expected to tighten due to ongoing refinery maintenance in the region, traders said.

Refiners' margin for the motor fuel could also be supported in the short run by refiners potentially trimming output due to weak overall margins, a trader said.

The gasoline crack rose to $4.45 per barrel above Brent crude from $4.14 on Monday.

Saudi Aramco was the main seller on the window, having sold 75% of the 200,000 barrels of 92-octane gasoline that traded. Unipec snapped up half of the traded volume.

In naphtha market, the crack dropped $4.83 to $107.63 per metric ton over Brent crude.

Supplies from the Middle East helped to counter the drop in Asian supplies with Saudi Arabia and United Arab Emirates being the top two exporters to the region, stabilising the market, traders said.

NEWS

Oil prices were steady on Tuesday, after rising more than $1 in the previous session, as traders assessed concerns over U.S. production in the aftermath of Hurricane Francine and also the prospect of lower U.S. crude stockpiles. Brent crude futures

for November held their ground at $72.77 a barrel. U.S. crude futures for October inched 12 cents higher to $70.21 a barrel.

Several oil companies including Exxon Mobil and Chevron defeated an appeal on Monday by consumers who accused them of colluding with former U.S. President Donald Trump, Russia and Saudi Arabia to cut oil production, boosting prices at the pump.

Russia's primary oil refining capacity is expected to rise in the second half of September as refineries are wrapping up their maintenance. Russia's average offline oil refining capacity is expected at 119,600 metric tons per day between Sept. 16 and 30, down from 145,600 tons per day in the first half of the month.

PRICES

CASH ASIA CLOSE Change Prev Close RIC

OSN Naphtha CFR Japan M1 653.25 0.50 652.75

($/mt)

OSN Naphtha CFR Japan M2 647.75 0.25 647.50

($/mt)

OSN Naphtha Diff ($/mt) 5.50 0.25 5.25 <NAF-TYO-DIF

Naphtha Netback FOB Sing 70.58 0.10 70.48

($/bbl)

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

Naphtha-Brent Crack 107.63 -4.82 112.45 <NAF-SIN-CRK

($/mt) >

Gasoline 97 ($/bbl) 82.14 1.02 81.12

Gasoline 95 ($/bbl) 81.80 1.02 80.78

Gasoline 92 ($/bbl) 77.20 1.02 76.18

Gasoline crack ($/bbl) 4.45 0.31 4.14 <GL92-SIN-CR

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

NWE Naphtha <NAPCNWEASMc1

M1/M2 >

NWE Naphtha

Crack NWE <NAPCNWEACMc1

Naphtha-Brent M1 >

Crack NWE <NAPCNWEACMc2

Naphtha-Brent M2 >

*Sing refers to

Singapore

(Reporting by Haridas; Editing by Shreya Biswas)

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

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Asia Naphtha/Gasoline-Gasoline crack rises for a second session

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