Asia Naphtha/Gasoline Naphtha crack posts weekly loss, ARA inventories rise

  • 12/24/2021
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NEW DELHI, Dec 24 (Reuters) - Asia"s naphtha crack snapped a two-day winning streak on Friday in thin trade, and posted a weekly loss of more than 6% after European inventories jumped by 12%. The crack plunged to $150.63 a tonne from $156.05 in the last session. Singapore markets were closed early on Friday ahead of the Christmas holiday. Naphtha stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area rose to 207,000 tonnes in the week to Dec. 23 from 185,000 tonnes last week. Meanwhile, the gasoline crack inched higher but the upside remained limited in light trading as market players remained cautious amid a surge in Omicron cases across the globe. The refining profit margin rose to $12.53 a barrel, up 29 cents from the last close. Gasoline margins posted a weekly gain of more than 5% over some positive developments around the COVID-19 vaccine. "The market appears to be looking past the potential threats caused by the Omicron coronavirus variant after recent studies suggested that the strain might be more containable than initially feared," Refinitiv Oil Research said in a note. However, health experts have warned that the battle against the COVID-19 variant was far from over despite two drugmakers saying their vaccines protected against it. read more NEWS - Brent crude futures snapped a three-day rally on Friday in light trade, with many investors away for the holidays, but the benchmark was still headed for a weekly gain, with the market focusing on the next step by OPEC+ and the impact of the Omicron variant. read more CASH ($/T) ASIA CLOSE Change % Change Prev Close RIC OSN Naphtha CFR Japan M1 724.00 5.00 0.70 719.00 OSN Naphtha CFR Japan M2 708.00 5.00 0.71 703.00 OSN Naphtha Diff 16.00 0.00 0.00 16.00 Naphtha Netback FOB Sing 78.44 0.55 0.71 77.89 Naphtha Diff FOB Sing 0.40 0.00 0.00 0.40 Naphtha-Brent Crack 150.63 -5.42 -3.47 156.05 Gasoline 97 91.41 1.37 1.52 90.04 Gasoline 95 90.69 1.39 1.56 89.30 Gasoline 92 88.98 1.68 1.92 87.30 Gasoline crack 12.53 0.29 2.37 12.24 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

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