Asia’s naphtha margin retreated from five-month highs on Monday after the crude oil benchmark rose but sentiment remained positive due to healthy feedstock demand from new crackers.
The crack fell by about $4 to $117.60 per metric ton over Brent crude oil.
“Growing Asian steam cracker capacity in 2025 will boost global olefin supply and increase the pull on naphtha feedstock imports,” consultancy Energy Aspects said in its March outlook for light distillates.
In the gasoline market, the crack inched higher but buying interest from Asia’s top importer Indonesia remained weak. The refining margin for gasoline traded at $8.73 per barrel over Brent crude on Monday, compared with $8.10 in the previous session.
NEWS
– Asia’s ability to supply sustainable aviation fuel will outpace regional demand this year and next as more production comes online, increasing exports and potentially lowering prices for the fuel, oil executives and analysts said.
– Oil traded higher on Monday after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping, and Chinese economic data fuelled hopes for higher demand.
SINGAPORE CASH DEALS
Three gasoline deals and no naphtha trades.
Source: Reuters