Asia’s naphtha refining profit margin rose on Monday as sentiment for cracking demand remained positive although window activity was thin.

The crack climbed to $87.10 per metric ton over Brent crude compared with $82.30 in the previous session.

Vietnam’s Long Son Petrochemicals achieved on-spec production, market sources said. The company resumed full operations on August 20 following a suspension from November last year.

Nigeria’s Dangote refinery and Japan’s Mitsui Chemicals signed a memorandum of understanding last week for collaboration on petrochemicals in Africa, Mitsui said in a statement.

The gasoline crack, on the other hand, eased to $11.28 per barrel over Brent crude on Monday from $11.90 on Friday.

NEWS
– Oil prices climbed on Monday as traders weighed concerns that Russian supply could be disrupted by more U.S. sanctions and Ukrainian attacks targeting energy infrastructure in Russia.
– India’s crude oil imports fell 8.7% in July to 18.56 million metric tons month-on-month, the lowest level since February 2024, government data showed.
– Indonesia urged the European Union to scrap countervailing duties on imports of biodiesel immediately, after the World Trade Organization backed several of Jakarta’s main claims in a complaint to the trade body.

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Source: Reuters