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Friday, 07/01/2022 5:08:48 AM

Friday, July 01, 2022 5:08:48 AM

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Naphtha margins are closely related to gasoline I think. At least that's what I get from this.

https://www.brecorder.com/news/40182858

The refining profit margin for gasoline rose to $36.70 a barrel, up from $35.40 on Friday. In physical markets, energy trader Vitol purchased two cargoes of total volume 100,000 barrels of the higher 95-octane grade of the motor fuel. Meanwhile, Sri Lanka’s state-owned refiner Ceypetco floated two tenders to import a total of 600,000 barrels of gasoline for delivery in July, a company document showed, amid a severe fuel shortage in the crisis-hit nation.

The naphtha crack traded at a discount of $23.45 a tonne, compared with $14.13 a tonne in the previous session, and the inter-month spread between the first-half of August and the first-half of September flipped into backwardation structure after a month to $6.



A tonne = 7.44 barrels. So it's only a marginal discount of a couple dollars/barrel for Naphtha (which is an intermediate product) compared to gasoline.

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