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2025-09-17 18:08:22
Asian Petrochemical Market Trends: (1) Naphtha refining margins in Asia continued to decline, despite a corresponding increase in crude oil benchmark prices, but the decline was limited by tight supply. The naphtha crack spread was approximately $102 per metric ton, and the spread to Brent crude remained stable at $6.25 per metric ton. (2) In the gasoline market, the gasoline crack spread remained above $13 per barrel due to the remaining tight supply-demand balance. China has issued its third batch of export quotas for gasoline, aviation fuel, and diesel this year, totaling 8.395 million metric tons. (3) Regarding inventories, according to S&P Global Commodity Insights, light distillate inventories at the Fujairah trading hub plummeted to 6.048 million barrels, reaching their lowest level since November 2025. (4) Regarding market dynamics, sources revealed that global commodity traders Vitol and Glencore are expected to formally bid for Chevron's 50% stake in Singapore's second-largest refinery. Japan's top power company JERA is in advanced talks to acquire U.S. natural gas production assets in a deal valued at approximately $1.7 billion, marking another example of Asian countries investing in the U.S. energy sector. Two gasoline transactions were made in Singapore's cash trading market.
