Asia naphtha prices ease; South Korean buyer surfaces
USO•Asia’s naphtha crack fell about $22 to $222 per ton over Brent, while prices remained above $1,000 per metric ton. Hanwha TotalEnergies bought two cargoes of up to 25,000 tons each for second-half November delivery at a premium above $30 per ton to Japan quotes.
1. Naphtha prices retreat
Asia’s naphtha prices eased after the crude oil benchmark weakened, though prices remained above $1,000 per metric ton amid high freight costs. The naphtha-Brent crack declined $22.38 to $222 per ton, and the market structure remained backwardated at $21 per ton.
2. South Korean purchase
Hanwha TotalEnergies bought two cargoes of up to 25,000 tons each for second-half November delivery at a premium above $30 per ton to Japan quotes. In gasoline, the crack remained supported by tight supplies and demand from buyers including Indonesia; East Asian sellers were looking to offer cargoes loading in November.
