Asia's naphtha price for prompt month (NAF-1H-TYO) declined by about 5% this week to $587 per ton mirroring the weakness in crude oil benchmarks and the backwardation between prompt and front month prices was broadly steady at $9.50 a ton.
In tenders, Indonesia's Pertamina was heard to have sought up to 22,000 tons of naphtha for delivery during November 20-22 in a tender that closed on Friday and was valid till October 8, market participants said.
South Korean Hanwha TotalEnergies was heard to have bought naphtha for second-half November delivery at a premium of lower double digits, they added.
In gasoline market, the refining profit margin was steady over $10 per barrel over Brent crude on Friday amid tight supply-demand conditions.
NEWS
- No injuries were reported in an explosion and fire on Thursday night on a jet fuel production unit at Chevron’s 285,000 barrel-per-day Los Angeles-area refinery, said people familiar with the matter.
- Nigeria's daily oil and gas production slumped during a brief nationwide strike by oil workers' union PENGASSAN that was called off on Wednesday after government-mediated talks with Dangote Refinery, according to an impact report seen by Reuters.
- Oil prices edged higher on Friday but remained on course for a weekly loss of about 7-8% after news of potential increases to OPEC+ supply.
SINGAPORE CASH DEALS
One naphtha and one gasoline trades.
PRICES
CASH
ASIA CLOSE
Change
Prev Close
RIC
OSN Naphtha CFR Japan M1 ($/mt)
587.00
-2.50
589.50
(NAF-1H-TYO)
OSN Naphtha CFR Japan M2 ($/mt)
577.00
-3.00
580.00
(NAF-2H-TYO)
OSN Naphtha Diff ($/mt)
10.00
0.50
9.50
(NAF-TYO-DIF)
Naphtha Netback FOB Sing ($/bbl)
63.22
-0.28
63.50
(NAF-SIN)
Naphtha-Brent Crack ($/mt)
102.43
3.13
99.30
(NAF-SIN-CRK)
Gasoline 97 ($/bbl)
78.86
-0.55
79.41
(GL97-SIN)
Gasoline 95 ($/bbl)
77.63
-0.55
78.18
(GL95-SIN)
Gasoline 92 ($/bbl)
75.00
-0.55
75.55
(GL92-SIN)
Gasoline crack ($/bbl)
10.39
0.20
10.19
(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