Asia Naphtha/Gasoline-Naphtha crack slips to near three-week low

SINGAPORE: Asia's naphtha crack slipped to nearly a three-week low of $91.18 a tonne, weighed down by general weakness in the gasoline market, although demand for the fuel from the petrochemical sector has remained firm.

- Naphtha is also used a blending component for gasoline other than as a petrochemical feedstock.

- South Korea's GS Caltex was in the market, seeking naphtha for second-half November delivery but the results were unclear.

- This came a day after Lotte Chemical had bought the fuel, also for second-half November delivery, at premiums of more than $4 a tonne to Japan quotes on a cost-and-freight (C&F) basis.