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Gasoline Unl 92 FOB Singapore Cargo: Jan. 2 - Mar. 19, 2013


Gasoline Unl 92 FOB Singapore Cargo: Jan. 2 - Mar. 19, 2013


Asian gasoline cracks to front-month May ICE Brent futures fall March 19


Asian gasoline cracks to front-month May ICE Brent futures fell March 19, with low-octane 92 RON gasoline and mid-octane 95 RON gasoline declining 31-48 cents/barrel.

High-octane 97 RON gasoline crack saw a sharper decline of $1.42/b to be assessed at $17.58/b. Benchmark 92 RON gasoline crack was assessed at $10.71/b, down from $11.02/b March 18.


Commentary continue below...


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The Platts Market on Close assessment process saw two deals done for 92 RON gasoline, with Gunvor being the buyer of both cargoes.

The company bought a 92 RON cargo for April 3-7 loading from Total at $120/b, followed by another deal with Vitol for a stem loading over April 9-13 at MOPS 92 RON assessments plus $1.10/b.

Traders were meanwhile focused on demand trends in Indonesia with some market sources saying imports of 88 RON gasoline by state-owned Pertamina’s trading arm Petral in April may be less than the 9 million barrels of term allocations expected earlier.

Petral on March 19 also sought a 80,000-barrels, spot cargo of 92 RON gasoline, comprising High Octane Mogas Component specifications, for April 1-3 delivery into Cilacap.

The tender closes March 21 and offers are to remain valid until March 22. Traders were eyeing result of a gasoline export tender by Chinese refiner Wepec to gauge demand among regional buyers.

Wepec’s tender to sell 33,000 mt of 92 RON gasoline for loading in H2 April from Dalian closed on March 19.

Looking ahead, some traders expected the market to come under pressure on expectations of additional barrels coming into the market.

“I think come April [there will be] lots of sellers... and on that I am not bullish,” said a Singapore-based trader.


Additional Asia oil price charts:

Gasoil FOB Singapore Cargo
Fuel oil: FO 180, 380 CST 3.5%S FOB Singapore Cargo
Jet Kerosene FOB Singapore Cargo
Naphtha C+F Japan Cargo
MTBE FOB Singapore





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