Sept 30 (Reuters) -
Asia's gasoline margins dipped to a two-week low on Monday without any deals being concluded.
The crack fell to $4.32 per barrel - its lowest since Sept. 17, from $4.92 on Friday.
Among tenders, Mangalore's MRPL was offering 75,000 metric tons of reformate for the Oct. 18-19 loading period, according to its website. The tender closes on Oct. 1.
Pakistan's PSO was seeking the benchmark grade of gasoline for Nov. 13-20 loading, its website showed. The tender closes on Oct. 7.
In naphtha, the crack rose by $4.75 to $112.65 per metric ton over Brent crude, hitting an eight-month high. The crack last hit $118.63 on Jan. 29.
The recent tightness in arbitrage supplies is expected to ease and could potentially weigh on market fundamentals.
Eastbound flows for September closed at a one-year low of 1.2-1.3 million metric tons, though the drop is expected to be short-lived, with the forecast for October arbitrage arrivals set to rebound sharply to 1.5-1.6 million metric tons, according to an LSEG report.
NEWS
Oil prices rose for a second consecutive session on Monday, with concerns escalating over potential supply disruptions in the Middle East. Brent crude futures for November delivery gained $1.12, up 1.56,% to $73.10 a barrel. The more-active contract for December delivery climbed $1.04, or 1.45%, to $72.58. U.S. West Texas Intermediate crude futures advanced 93 cents, or 1.36%, to $69.11 a barrel.
About 24% of crude oil production and 18% of natural gas output in the U.S. Gulf of Mexico was shut in response to Hurricane Helene, the U.S. Bureau of Safety and Environmental Enforcement said on Friday.
SINGAPORE CASH DEALS
No deals concluded.
PRICES
CASH ASIA CLOSE Change Prev Close RIC
OSN Naphtha CFR Japan M1 670.00 6.50 663.50
($/mt)
OSN Naphtha CFR Japan M2 664.00 6.50 657.50
($/mt)
OSN Naphtha Diff ($/mt) 6.00 0.00 6.00 <NAF-TYO-DIF
>
Naphtha Netback FOB Sing 72.44 0.77 71.67
($/bbl)
Naphtha Diff FOB Sing 0.40 0.00 0.40 <NAF-SIN-DIF
>
Naphtha-Brent Crack 92.42 4.85 87.57 <NAF-SIN-CRK
($/mt) >
Gasoline 97 ($/bbl) 88.64 1.90 86.74
Gasoline 95 ($/bbl) 87.31 1.90 85.41
Gasoline 92 ($/bbl) 83.70 1.90 81.80
Gasoline crack ($/bbl) 6.69 1.68 5.01 <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 Sonia Cheema)
((Haridas.X@thomsonreuters.com;))
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