Gasoline margin strong, inventories fall

About this update from Lotte Chemical Corporation

Asia's gasoline refining profit margin continued to hover near a 21-month high on Thursday, after Singapore inventories shrunk for a fourth straight week.The crack traded at $16.44 per barrel over Brent crude, the highest level since January 2024, compared with $16.02 in the previous session.In naphtha market, the refining profit margin rose by about $2 to $106.30 per metric ton over Brent crude. The backwardation between second-half December and second-half January prices stood at $8.50 a ton.Meanwhile, South Korea's Lotte Chemical said it has sold about 75% stake in its Pakistani subsidiary to Dubai-based PTA Global Holding for 98 billion won ($68.94 million). Singapore light distillate stocks fell to a five-week low of 12.709 million barrels in the week to November 12, Enterprise Singapore data showed. NEWS- The world oil market will see a small surplus in 2026 after OPEC+ production increases and higher supply from other producers, an OPEC report showed on Wednesday, a further shift from its earlier projections of a deficit.- Oil prices edged down on Thursday, extending losses from the previous session, as a report showing rising crude inventories in the U.S. reinforced concerns that the global supply is more than sufficient to meet current fuel demand. SINGAPORE CASH DEALS One naphtha trade.PRICES CASHASIA CLOSEChangePrev CloseRICOSN Naphtha CFR Japan M1 ($/mt)575.50-15.00590.50(NAF-1H-TYO)OSN Naphtha CFR Japan M2 ($/mt)567.00-14.75581.75(NAF-2H-TYO)OSN Naphtha Diff ($/mt)8.50-0.258.75(NAF-TYO-DIF)Naphtha Netback FOB Sing ($/bbl)61.94-1.6763.61(NAF-SIN)Naphtha-Brent Crack ($/mt)106.302.25104.05(NAF-SIN-CRK)Gasoline 97 ($/bbl)82.38-2.3884.76(GL97-SIN)Gasoline 95 ($/bbl)81.31-2.2983.60(GL95-SIN)Gasoline 92 ($/bbl)79.00-1.8880.88(GL92-SIN)Gasoline crack ($/bbl)16.440.4216.02(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(NAPCNWE...

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