SINGAPORE, April 21 (Reuters) - Asia’s naphtha and gasoline markets were little changed on Tuesday, against a backdrop of thin spot activity on the window.
Buying interest for June spot cargoes was slightly subdued, with some importers still waiting for a clearer supply direction, following the waiver on Russian cargoes late last week.
South Korean importers are likely to engage in more private negotiations in the near term, according to two trade sources.
Naphtha refining margins (NAF-SIN-CRK) were little changed, hovering at around $267 per metric ton.
Meanwhile, gasoline refining margins barely moved, maintaining at around $23.7 a barrel. (GL92-SIN-CRK)
The east-west price spreads went slightly deeper into discounted territory of nearly $2.8 a barrel, as expectations of increased regional supply weighed on Asian swaps.
There have been discussions of more northeast Asia-origin exports for May since late last week, while the backwardation in swap market structures eased further.
<h3>NEWS</h3>
<ul>
<li>Crude oil loadings from Saudi Arabia’s Red Sea port of Yanbu averaged about 3.5 million barrels per day in the week starting April 13, Kpler data showed, 17% lower than the previous week, and their lowest since the second week of March.</li>
<li>China will lower domestic retail gasoline and diesel price caps from Tuesday night, marking its first cut this year as global oil prices retreated from their peaks of the Iran war.</li>
<li>Marine fuel providers face tighter supply of higher-density, low-sulphur crude oil, known as heavy sweet, for blending because of competition from refiners for the same oil as the Iran war disrupts Middle East imports, industry sources said.</li>
</ul>
<h3>SINGAPORE CASH DEALS (O/AS)</h3>
<ul>
<li>No naphtha or gasoline deals</li>
</ul>
<h3>PRICES</h3>
CASH ASIA CLOSE Change Prev Close RIC
OSN Naphtha CFR Japan M1 974.25 -8.00 982.25 (NAF-1H-TYO)
($/mt)
OSN Naphtha CFR Japan M2 871.25 -8.00 879.25 (NAF-2H-TYO)
($/mt)
OSN Naphtha Diff ($/mt) 103.00 0.00 103.00 

<blockquote></blockquote>
Naphtha Netback FOB Sing 106.25 -0.89 107.14 (NAF-SIN)
($/bbl)
Naphtha-Brent Crack ($/mt) 266.55 1.97 264.58 

<blockquote></blockquote>
Gasoline 97 ($/bbl) 125.37 -1.19 126.56 (GL97-SIN)
Gasoline 95 ($/bbl) 123.76 -1.14 124.90 (GL95-SIN)
Gasoline 92 ($/bbl) 118.00 -0.90 118.90 (GL92-SIN)
Gasoline crack ($/bbl) 23.64 0.43 23.21 

K&gt;
For a list of derivatives prices, including margins, please double click
the RICs below.
Brent M1 

*
Naphtha CFR Japan M1 (NACFRJPSWMc1)
Naphtha CFR Japan M1/M2 (NACFRJPSDMc1)
Naphtha CFR Japan M2 (NACFRJPSWMc2)
Naphtha Japan-Sing Netback (NAPTC4SPDMc1)
<h3>M1</h3>
Naphtha Japan-Sing Netback (NAPTC4SPDMc2)
<h3>M2</h3>
Naphtha FOB Sing M1 (NAFOBSGSWMc1)
Naphtha FOB Sing M1/M2 (NAFOBSGSDMc1)
Naphtha FOB Sing M2 (NAFOBSGSWMc2)
Naphtha Cracks M1 (NACFRJPCKMc1)
East-West Naphtha M1 

*
East-West Naphtha M2 

*
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

40015

600938

00883

- Asia’s naphtha and gasoline markets remained stable amid limited trading activity, with June spot cargo demand subdued.  
- South Korean importers are expected to shift towards private negotiations, influenced by recent supply clarity from Russian cargo waivers.  
- Naphtha refining margins held steady at approximately $267 per metric ton, while gasoline refining margins also showed minimal change at around $23.7 per barrel.

Reuters

CNOOC F13 N2909

CNOOC

PETRONAS N5004

PETRONAS N6004

Sinopec Corp.

Exxon Mobil

CNOOC F03 N3305

Lukoil

CNOOC F13 N4305

Occidental Petroleum

PETRONAS N3004

Bosera CSI Oil & Gas Resources Index ETF

Us Gasoline

VanEck Oil Services ETF

iShares US Oil Equip & Svcs

SPDR O&G Equip

VanEck Oil Refiners ETF

Asia Naphtha/Gasoline-Markets little changed; traders eye more gasoline supplies