NEW DELHI, Jan 12 (Reuters) - Asia's naphtha prices extended last week's gains on Monday amid strong buying interest from China for second-half February cargoes, traders said.
The price for second-half February naphtha rose by about $10 to $562.75 per ton and it traded $3.50 a ton higher than second-half March naphtha in backwardation structure.
CNOOC and Unipec surfaced in spot market in recent days to buy volumes for second-half February at a premium of $1-$4 per ton to second-half January quotes on cost and freight basis, market participants said.
The refining profit margin for naphtha was up slightly at $88.53 a ton over Brent crude from $84.55 in the previous session.
NEWS
- Commodities trader Vitol is expected to load the first cargo of naphtha from the U.S. to Venezuela this weekend under a new supply agreement announced just days ago by President Donald Trump, two sources familiar with the matter told Reuters on Saturday.
- At least six oil tankers, most of them loaded, that had departed Venezuela in early January in 'dark mode' - or with their transponders off amid a strict U.S. blockade - are now back in the South American country's waters, according to state company PDVSA and monitoring service TankerTrackers.com.
SINGAPORE CASH DEALS O/AS
One gasoline trade.
PRICES
CASH | ASIA CLOSE | Change | Prev Close | RIC |
OSN Naphtha CFR Japan M1 ($/mt) | 562.75 | 9.75 | 553.00 | NAF-1H-TYO |
OSN Naphtha CFR Japan M2 ($/mt) | 559.25 | 9.75 | 549.50 | NAF-2H-TYO |
OSN Naphtha Diff ($/mt) | 3.50 | 0.00 | 3.50 | NAF-TYO-DIF |
Naphtha Netback FOB Sing ($/bbl) | 60.53 | 1.08 | 59.44 | NAF-SIN |
Naphtha-Brent Crack ($/mt) | 88.53 | 3.98 | 84.55 | NAF-SIN-CRK |
Gasoline 97 ($/bbl) | 75.05 | -0.20 | 75.25 | GL97-SIN |
Gasoline 95 ($/bbl) | 72.80 | -0.20 | 73.00 | GL95-SIN |
Gasoline 92 ($/bbl) | 71.80 | -0.20 | 72.00 | GL92-SIN |
Gasoline crack ($/bbl) | 8.57 | -0.97 | 9.54 | GL92-SIN-CRK |
For a list of derivatives prices, including margins, please double click the RICs below. | ||||
Brent M1 | BRENTSGMc1 | |||
Naphtha CFR Japan M1 | NACFRJPSWMc1 | |||
Naphtha CFR Japan M1/M2 | NACFRJPSDMc1 | |||
Naphtha CFR Japan M2 | NACFRJPSWMc2 | |||
Naphtha Japan-Sing Netback M1 | NAPTC4SPDMc1 | |||
Naphtha Japan-Sing Netback M2 | NAPTC4SPDMc2 | |||
Naphtha FOB Sing M1 | NAFOBSGSWMc1 | |||
Naphtha FOB Sing M1/M2 | NAFOBSGSDMc1 | |||
Naphtha FOB Sing M2 | NAFOBSGSWMc2 | |||
Naphtha Cracks M1 | NACFRJPCKMc1 | |||
East-West Naphtha M1 | NAPJPEWMc1 | |||
East-West Naphtha M2 | NAPJPEWMc2 | |||
NWE Naphtha M1 | NAPCNWEAMc1 | |||
NWE Naphtha M1/M2 | NAPCNWEASMc1 | |||
NWE Naphtha M2 | NAPCNWEAMc2 | |||
Crack NWE Naphtha-Brent M1 | NAPCNWEACMc1 | |||
Crack NWE Naphtha-Brent M2 | NAPCNWEACMc2 | |||
*Sing refers to Singapore | ||||
(Reporting by Mohi Narayan)
((Mohi.Narayan@thomsonreuters.com; https://twitter.com/_mohi_;))
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