NEW DELHI, Jan 27 (Reuters) - Asia's gasoline refining profit margin tanked below $6 per barrel on Tuesday amid abundant volumes in the prompt market, traders said.
The crack slumped to $5.19 per barrel over Brent crude from $6.03 a barrel a day earlier.
Adding to the negative sentiment, Indonesia's Pertamina Patra Niaga, the retail unit of Indonesian state energy firm Pertamina, estimated that 2026 sales of its 90-octane gasoline will rise by 3.9% to around 29.2 million kilolitres year-on-year, a company director said on Tuesday.
The country is Asia's top gasoline importer.
Analysts said that a number of refineries were under maintenance in the last quarter of 2025 and those have come back and added supplies to the market, while inventories in the West remain high.
"In fact, some sellers in Europe could be trying to find homes for their fuel in the East of Suez markets," Priti Mehta, analyst at Wood Mackenzie said.
NEWS
- State-owned PetroChina has told its traders not to buy or trade Venezuelan crude since Washington took control of the OPEC producer's oil exports this month, two trading executives familiar with the situation said.
- Oil prices edged up on Tuesday as a massive winter storm hit crude production and affected refineries on the U.S. Gulf Coast, but the rise was curbed by a resumption in supply from Kazakhstan. O/R
SINGAPORE CASH DEALS O/AS
Three gasoline trades.
PRICES
CASH | ASIA CLOSE | Change | Prev Close | RIC |
OSN Naphtha CFR Japan M1 ($/mt) | 575.50 | -2.75 | 578.25 | NAF-1H-TYO |
OSN Naphtha CFR Japan M2 ($/mt) | 568.75 | -2.75 | 571.50 | NAF-2H-TYO |
OSN Naphtha Diff ($/mt) | 6.75 | 0.00 | 6.75 | NAF-TYO-DIF |
Naphtha Netback FOB Sing ($/bbl) | 61.94 | -0.31 | 62.25 | NAF-SIN |
Naphtha-Brent Crack ($/mt) | 87.18 | 2.13 | 85.05 | NAF-SIN-CRK |
Gasoline 97 ($/bbl) | 72.45 | -1.49 | 73.94 | GL97-SIN |
Gasoline 95 ($/bbl) | 72.95 | -0.49 | 73.44 | GL95-SIN |
Gasoline 92 ($/bbl) | 70.30 | -1.49 | 71.79 | GL92-SIN |
Gasoline crack ($/bbl) | 5.19 | -0.84 | 6.03 | 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; Editing by Tasim Zahid)
((Mohi.Narayan@thomsonreuters.com; https://twitter.com/_mohi_;))
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