NEW DELHI, Feb 10 (Reuters) - Asia’s gasoline refining profit on Tuesday rose to the highest level since January 21 amid firm outlook for next quarter, traders and analysts said.
The crack jumped to $7.76 per barrel over Brent crude, compared with $5.34 a barrel a day earlier.
A Singapore-based industry source said the gasoline market was in oversold territory and going forward the outlook seems strong given Chinese holiday and Ramadan are high demand season.
In naphtha market, the crack rose by $4 to $103.35 per metric ton over Brent crude on Tuesday.
<h3>NEWS</h3>
<ul>
<li>Oil prices edged down on Tuesday as traders gauged the potential for supply disruptions after U.S. guidance for vessels transiting the Strait of Hormuz kept attention squarely on tensions between Washington and Tehran. (O/R)</li>
<li>India’s fuel consumption fell to 21.05 million metric tons in January from 21.71 million the previous month, which was the highest monthly number recorded in oil ministry data, but gained nearly 3% compared with the same period last year.</li>
</ul>
<h3>SINGAPORE CASH DEALS (O/AS)</h3>
No trades.
<h3>PRICES</h3>
CASH ASIA Chan Prev RIC
CLOSE ge Close
OSN Naphtha CFR 620.25 15.0 605.25 

Japan M1 ($/mt) 0 TYO&gt;
OSN Naphtha CFR 609.75 15.0 594.75 

Japan M2 ($/mt) 0 TYO&gt;
OSN Naphtha Diff 10.50 0.00 10.50 

($/mt) -DIF&gt;
Naphtha Netback 66.92 1.67 65.25 

FOB Sing ($/bbl) &gt;
Naphtha-Brent 103.35 4.05 99.30 

Crack ($/mt) -CRK&gt;
Gasoline 97 78.97 3.88 75.09 

($/bbl) N&gt;
Gasoline 95 78.41 3.88 74.53 

($/bbl) N&gt;
Gasoline 92 76.68 3.88 72.80 

($/bbl) N&gt;
Gasoline crack 7.76 2.42 5.34 

($/bbl) N-CRK&gt;
For a list of derivatives prices, including
margins, please double click the RICs below.
Brent M1 

GMc1
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Naphtha CFR Japan 

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Naphtha CFR Japan 

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Naphtha CFR Japan 

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Naphtha 

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Netback M1
Naphtha 

Japan-Sing
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Netback M2
Naphtha FOB Sing 

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Naphtha FOB Sing 

<h3>M1/M2</h3>
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Naphtha FOB Sing 

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Naphtha Cracks M1 

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East-West Naphtha 

M1 WMc1
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East-West Naphtha 

M2 WMc2
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NEW Naphtha M1 (NAPCNWEAMc1)
NEW Naphtha M1/M2 

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NEW Naphtha M2 (NAPCNWEAMc2)
Crack NEW 

Naphtha-Brent M1
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Crack NEW 

Naphtha-Brent M2
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*Sing refers to
Singapore

Asia's gasoline refining profit has surged to its highest level since January 21, reaching $7.76 per barrel over Brent crude, driven by a strong demand outlook for the next quarter. The naphtha crack also increased to $103.35 per metric ton over Brent. Despite a slight decline in India's fuel consumption in January, the market remains optimistic due to upcoming high-demand seasons like the Chinese holiday and Ramadan. Oil prices have dipped as traders assess potential supply disruptions amid geopolitical tensions in the Strait of Hormuz.

Reuters

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Asia Naphtha/Gasoline-Gasoline crack climbs on firm demand outlook