Asia Naphtha/Gasoline-Naphtha margins climb to over one-month high

SINGAPORE, Dec 23 (Reuters) - Asia's naphtha margins climbed to their highest in more than a month on Monday, paring the previous session's losses, as U.S. President-elect Donald Trump's threat to reinforce Washington's control of a key shipping passage triggered fears of supply chain disruptions.

The crack rose from $93.98 in the previous session to $100.15, its highest level since Nov. 11.

Gasoline margins ticked up $7.13 on Friday to $8.08 for the day, amid thinned trading ahead of the year-end holidays.

Trump threatened to reassert U.S. control over the Panama Canal on Sunday, accusing Panama of charging excessive rates to use the Central American passage.

The waterway, which allows up to 14,000 ships to cross per year, accounts for 2.5% of global seaborne trade and is critical to U.S. imports of autos and commercial goods by container ships from Asia, and for U.S. exports of commodities.

NEWS

Oil prices rose on Monday as lower-than-expected U.S. inflation data revived hopes for further policy easing, although the outlook for a supply surplus next year weighed on the market.

China's CNOOC Limited said on Monday its Suizhong 36-2 oilfield 36-2 block development project has started production, and is expected to achieve peak production of approximately 9,700 barrels of oil equivalent per day in 2026.

Nigeria's Dangote Refinery is now operating at 85% capacity and is on course to deliver European-standard products by January, an executive said on Friday.

U.S. crude oil exports to northwest Europe are likely to slip early next year after hitting a record high in November, as the arbitrage for transatlantic shipments has slammed shut and freight rates have climbed, analysts said.

SINGAPORE CASH DEALS

No deals for the day.

PRICES

CASH ASIA CLOSE Change Prev RIC

Close

OSN Naphtha CFR Japan 648.25 10.00 638.25 <NAF-1H-TYO

M1 ($/mt) >

OSN Naphtha CFR Japan 644.00 10.00 634.00 <NAF-2H-TYO

M2 ($/mt) >

OSN Naphtha Diff 4.25 0.00 4.25 <NAF-TYO-DI

($/mt) F>

Naphtha Netback FOB 70.03 1.16 68.87

Sing ($/bbl)

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

F>

Naphtha-Brent Crack 100.15 3.85 96.30 <NAF-SIN-CR

($/mt) K>

Gasoline 97 ($/bbl) 84.40 1.46 82.94

Gasoline 95 ($/bbl) 85.06 1.46 83.60

Gasoline 92 ($/bbl) 81.16 1.46 79.70

Gasoline crack ($/bbl) 8.08 0.95 7.13 <GL92-SIN-C

RK>

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

the RICs below.

Brent M1

Naphtha CFR Japan M1 <NACFRJPSWMc

1>

Naphtha CFR Japan M1/M2 <NACFRJPSDMc

1>

Naphtha CFR Japan M2 <NACFRJPSWMc

2>

Naphtha Japan-Sing <NAPTC4SPDMc

Netback M1 1>

Naphtha Japan-Sing <NAPTC4SPDMc

Netback M2 2>

Naphtha FOB Sing M1 <NAFOBSGSWMc

1>

Naphtha FOB Sing M1/M2 <NAFOBSGSDMc

1>

Naphtha FOB Sing M2 <NAFOBSGSWMc

2>

Naphtha Cracks M1 <NACFRJPCKMc

1>

East-West Naphtha M1

East-West Naphtha M2

NWE Naphtha M1 <NAPCNWEAMc1

>

NWE Naphtha M1/M2 <NAPCNWEASMc

1>

NWE Naphtha M2 <NAPCNWEAMc2

>

Crack NWE Naphtha-Brent <NAPCNWEACMc

M1 1>

Crack NWE Naphtha-Brent <NAPCNWEACMc

M2 2>

*Sing refers to

Singapore

(Reporting by Gabrielle Ng; Editing by Shilpi Majumdar)

((gabrielle.ng@thomsonreuters.com;))