January 14, 2019 / 11:05 AM / 8 months ago

Asia Naphtha/Gasoline-Gasoline returns to positive zone

    SINGAPORE, Jan 14 (Reuters) - Asia's naphtha crack extended gains to reach a 1-1/2 week high
of $44.68 a tonne on Monday while the gasoline crack returned to the positive territory of 19
cents a barrel for the first time in nearly a week, supported by weaker feedstock crude oil
    - Naphtha trades were mostly muted following a string of purchases last week, mostly for
cargoes scheduled for second-half February delivery. 
    - Japan's Fuji Oil was one of those buyers that had bought naphtha for second-half February
delivery at a premium around the mid single-digit a tonne level to Japan quotes on a
cost-and-freight (C&F) basis, traders said. 
    - This, however, could not be directly confirmed as buyers do not typically comment on their
deals or operations. 
    * TENDERS: The Egyptian General Petroleum Corporation (EGPC) has offered two naphtha cargoes
at 35,000 tonnes each for Feb. 5-7 loading and March 14-16 loading from Suez respectively. 
    - It has offered two more cargoes for optional loading for Feb. 25-27 and March 26-28 from the
same port through a tender closing on Jan. 17. 
    - Bids will stay valid until Jan. 24. 
    - EGPC has a sale tender for 35,000 tonnes of the fuel for end-January loading from Suez which
closed more than a week ago, but the results were not clear. 
    * OTHER NEWS: A South Korean oil buyer is set to receive about 2 million barrels of Iranian
condensate in January, making this the first Iranian oil import by South Korea in four months
after imports had to be stopped due to the United States re-imposing sanctions on Iran.

    - A major fuel pipeline that supplies Mexico City remained closed after two ruptures in a
single day, the president said on Friday, as the government works to stem shortages that have
frustrated motorists and triggered economic risks.
    * CASH DEALS: One gasoline deal and one on naphtha.
 LIGHT DISTILLATES                                                                                
 CASH ($/T)                     ASIA CLOSE       Change     % Change   Prev Close  RIC
 OSN Naphtha CFR Japan M1                493.25     -13.25      -2.62      506.50  NAF-1H-TYO
 OSN Naphtha CFR Japan M2                488.75     -13.25      -2.64      502.00  NAF-2H-TYO
 OSN Naphtha Diff                          4.50       0.00       0.00        4.50  NAF-TYO-DIF
 Naphtha Netback FOB Sing                 52.04      -1.53      -2.86       53.57  NAF-SIN
 Naphtha Diff FOB Sing                     0.55      -0.05      -8.33        0.60  NAF-SIN-DIF
 Naphtha-Brent  Crack                     44.68       4.23      10.46       40.45  NAF-SIN-CRK
 Gasoline 97                              63.25      -2.15      -3.29       65.40  GL97-SIN
 Gasoline 95                              61.65      -2.25      -3.52       63.90  GL95-SIN
 Gasoline 92                              60.00      -2.00      -3.23       62.00  GL92-SIN
 Gasoline crack                            0.19       0.33    -235.71       -0.14  GL92-SIN-CRK
 For a list of derivatives prices, including margins, please double                               
 click the RICs below.                                                             
 Brent M1                                                                                         
 Naphtha CFR Japan M1                                                                             
 Naphtha CFR Japan M1/M2                                                                          
 Naphtha CFR Japan M2                                                                             
 Naphtha Japan-Sing Netback M1                                                                    
 Naphtha Japan-Sing Netback M2                                                                    
 Naphtha FOB Sing M1                                                                              
 Naphtha FOB Sing M1/M2                                                                           
 Naphtha FOB Sing M2                                                                              
 Naphtha Cracks M1                                                                                
 East-West Naphtha M1                                                                             
 East-West Naphtha M2                                                                             
 NWE Naphtha M1                                                                                   
 NWE Naphtha M1/M2                                                                                
 NWE Naphtha M2                                                                                   
 Crack NWE Naphtha-Brent M1                                                                       
 Crack NWE Naphtha-Brent M2                                                                       
 *Sing refers to Singapore                                                                        

 (Reporting by Seng Li Peng; Editing by Mark Potter)
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