Asia Naphtha/Gasoline-Gasoline refining profit margin eases, naphtha up
19/11/2025 10:53
NEW DELHI, Nov 19 (Reuters) - Asia's gasoline refining profit margin eased on Wednesday but retained strength above $14 per barrel over Brent crude over tight supply-demand fundamentals, traders said. In tenders, an Indian seller was heard to have sold pygas for December 10-16 loading from Mundra, market participants said. In the naphtha market, upbeat window activity supported refining margins, which rose by $1.27 to $96.90 per metric ton over Brent crude on Monday. Analysts said naphtha demand from gasoline-blending pool will continue to lend support to the product, although weak demand from petrochemicals will persist. INVENTORIES Light distillate stocks at the Fujairah commercial hub declined by 562,000 barrels to 7.225 million barrels in the week to November 17, S&P Global Commodity Insights data showed. FUJAIRAH/ NEWS Crude loadings at Russia's Novorossiysk port are about two to three days behind schedule as damage caused by a November 14 Ukrainian attack has limited the capacity of a key jetty at the terminal, three sources familiar with the matter told Reuters. - Finnish petrol station operator Teboil, which is owned by Russian oil major Lukoil, said on Wednesday it is preparing to shut down its operations as fuel runs out amid U.S. sanctions against its parent company. SINGAPORE CASH DEALS O/AS Two naphtha trades, one gasoline trade. PRICES
| CASH | ASIA CLOSE | Change | Prev Close | RIC |
| OSN Naphtha CFR Japan M1 ($/mt) | 579.00 | 4.50 | 574.50 | NAF-1H-TYO |
| OSN Naphtha CFR Japan M2 ($/mt) | 571.00 | 7.00 | 564.00 | NAF-2H-TYO |
| OSN Naphtha Diff ($/mt) | 8.00 | -2.50 | 10.50 | NAF-TYO-DIF |
| Naphtha Netback FOB Sing ($/bbl) | 62.33 | 0.50 | 61.83 | NAF-SIN |
| Naphtha-Brent Crack ($/mt) | 96.90 | 1.27 | 95.63 | NAF-SIN-CRK |
| Gasoline 97 ($/bbl) | 82.10 | -1.00 | 83.10 | GL97-SIN |
| Gasoline 95 ($/bbl) | 81.00 | -1.00 | 82.00 | GL95-SIN |
| Gasoline 92 ($/bbl) | 78.70 | -1.00 | 79.70 | GL92-SIN |
| Gasoline crack ($/bbl) | 14.42 | -1.43 | 15.85 | 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 | ||||
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