Gasoline margin lingers near $10/barrel

About this update from Pt Pertamina Geothermal Energy Tbk

Asia's gasoline refining profit margin was little changed this week as the focus remained fixed on Indonesian Pertamina's term tenders, while trades for benchmark-grade at the window supported bullish sentiment.The crack traded firm above $10 per barrel over Brent crude on Friday.Pertamina is seeking to buy up to 1.2 million barrels of term gasoline cargoes monthly for delivery between July and September, according to a document seen by Reuters on Friday, its second such tender in a month. Indonesia is Asia's largest gasoline buyer.The company is looking to buy up to 500,000 barrels of octane-92 gasoline and up to 700,000 barrels of octane-90 gasoline each month, the document showed, and there are restrictions on origin of cargoes.Analysts and traders said uncertainty around Pertamina's imports will be bearish for the crack in the near-term. They expect tenders to be awarded and cargoes to be booked by mid-June to secure supplies for July.NEWS- Rising OPEC+ supplies and new streams of oil coming online globally are increasing options for European and Asian refiners and weighing on export demand for light sweet U.S. crude, contributing to lower prices in the country's main oil-producing regions.- Japanese oil refiner Idemitsu Kosan TSE:5019 shut the 155,000 barrels-per-day No.3 crude distillation unit (CDU) at its Yokkaichi refinery in central Japan on May 19 for scheduled maintenance, a company spokesperson said on Friday. SINGAPORE CASH DEALS Three gasoline deals, two naphtha trades.PRICESCASHASIA CLOSEChangePrev CloseRICOSN Naphtha CFR Japan M1 ($/mt)566.252.75563.50(NAF-1H-TYO)OSN Naphtha CFR Japan M2 ($/mt)559.004.00555.00(NAF-2H-TYO)OSN Naphtha Diff ($/mt)7.25-1.258.50(NAF-TYO-DIF)Naphtha Netback FOB Sing ($/bbl)60.920.3160.61(NAF-SIN)Naphtha-Brent Crack ($/mt)78.081.7776.30(NAF-SIN-CRK)Gasoline 97 ($/bbl)77.23-0.6077.83(GL97-SIN)Gasoline 95 ($/bbl)77.370.4076.97(GL95-SIN)Gasoline 92 ($/bbl)75.400.4075.00(GL92-SIN)Gasoline crack ($/bbl)10.310.2710.04(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(NAFOBS...

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