Bloomberg News

Asian Gasoline, Naphtha Fall; Reforming Spread Narrows: Wrap

June 01, 2006

Asian spot gasoline prices for immediate delivery fell as much as 1.7 percent in Singapore-based trading. Naphtha fell 0.3 percent, according to Bloomberg data.

                                         Spot Prices
--------------------------------------------------------------
Singapore                                ($/barrel)
--------------------------------------------------------------
                                  Bid      Offer     Change
Gasoline 97-RON Unleaded         88.10     88.20     -1.40
Gasoline 95-RON Unleaded         85.20     85.30     -1.50
Gasoline 92-RON Unleaded         84.70     84.80     -1.50
Naphtha                          65.90     66.00     +0.40
--------------------------------------------------------------
Japan                                    ($/metric ton)
--------------------------------------------------------------
                                  Bid      Offer     Change
Naphtha                        615.25     617.75     -2.13
--------------------------------------------------------------

The reforming spread, or gasoline's premium to naphtha, narrowed by $1.90 a barrel to $18.80 a barrel for 92-RON gasoline.

Reliance Industries offered to sell 60,000 metric tons of 95-RON gasoline for loading in June. Japan's Mitsui Chemicals Inc. (4183), Korea's Honam Petrochemical Corp. and Lotte Daesan, formerly a unit of Hyundai Petrochemical Co., bought cargoes for July delivery. The spread widened to a record $25.60 on May 15.

Gasoline transactions through pricing service Platts's oil-trading system:

No gasoline transactions were reported today. Trafigura AG withdrew its bid for 92-RON at $84 a barrel, $1 a barrel below its bid for the fuel yesterday, while OAO Lukoil withdrew an offer at $84.80 a barrel, said two traders who participate in the Platts system.

Trafigura withdrew its bid for a 97-RON cargo at $89 a barrel, $0.60 a barrel below its bid yesterday. No 97-RON offers were available, according to the traders.

Naphtha transactions through oil-pricing service Platts's oil-trading system:

Three naphtha cargoes for delivery to Japan on a cost-and-freight basis between Aug. 1 and Aug. 15 traded, said two traders who participate in Platts' system.

Mitsui & Co. sold a first-half August cargo to Glencore International AG at $615.50 a ton, and a second cargo to J. Aron & Co. Singapore, a unit of Goldman Sachs Group Inc., at $616.75 a ton. Itochu Corp. (8001) bought a second-half August cargo from Vitol at $617 a ton, said the traders.

Tenders Wrap: ---------------------------------------------------------------- Issuer Product Action Volume Dates

'000 ---------------------------------------------------------------- Reliance Industries 95-RON gasoline sell 60 June 28-30 Hindustan Petroleum 88-RON gasoline sell 25 June 15-20 Mangalore Refinery reformate sell 25 June 28-30 Chinese Petroleum naphtha buy 75 July 22-31 Chinese Petroleum naphtha sell 30 July 1-31 Mangalore Refinery naphtha sell 30 June 18-20 Mangalore Refinery naphtha sell 30 June 26-28 Kochi Refineries naphtha sell 27 June 24-28 Oil & Natural Gas naphtha well 35 June 27-28 ----------------------------------------------------------------

To contact the reporter on this story: Trisha Huang in Singapore at thuang14@bloomberg.net

To contact the editor responsible for this story: Reinie Booysen at rbooysen@bloomberg.net


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