Asia’s naphtha refining profit margin was little changed on Monday amid thin activity at the trading window, while traders expected reduced buying from China.
The crack traded at $89.60 per metric ton over Brent crude, compared with $88.98 in the previous session.
South Korean buyers were active in the spot market last week and were expected to snap up naphtha this week too, market participants said.
In gasoline markets, Indonesia’s Pertamina issued five tenders to buy nearly 3 million barrels of gasoline a month for delivery between July and December, and excluded Singapore as the origin of supply in two of the tenders, documents showed on Monday.
Taiwan’s FPCC has offered 92-octane gasoline for the June 2025 to May 2026 period in a term tender that closes on May 23 last week, market sources said.
NEWS
– Malaysia’s Pengerang Refining Company (Prefchem) has restarted one of its two residue fluid catalytic cracking (RFCC) units in the past week after shutting it for repairs early this year, four sources familiar with the matter said.
– Oil slipped on Monday, weighed down by Moody’s downgrade of the U.S. sovereign credit rating and official data that showed slowing growth in China’s industrial output and retail sales.
SINGAPORE CASH DEALS
No trades.
Source: Reuters