Asia’s naphtha refining profit margin was little changed on Thursday amid thin window activity.

The crack traded at $92.23 per metric ton over Brent crude, compared with $92.18 a ton a day earlier. The backwardation between first-half October and first-half November stood at $10.50 a ton.
Lotte Chemical was heard to have purchased 25,000 tons of second-half October minimum 65% naphtha at a premium of about $4 per ton this week, while Qatar Energy sold 50,000 tons of light naphtha at a premium of about $24 per ton for loading during September 17-18, market sources said.

Meanwhile, Singapore inventories of light distillates fell by 1.669 million barrels to a three-week low of 13.485 million barrels in the week to August 27, Enterprise Singapore data showed.

NEWS
– Russian oil exports to India are set to rise in September, traders said, as producers cut prices to sell more crude because they cannot process as much in refineries that were damaged by Ukrainian drone attacks on energy infrastructure.
– Russia’s domestic fuel market is fully supplied and the situation is under control, Kremlin spokesman Dmitry Peskov said on Thursday.

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Source: Reuters