Asia’s naphtha crack spread widened from the lowest in four days, signaling higher profit for refiners making the petrochemical feedstock, as per Bloomberg. Japan naphtha’s premium to London-traded Brent crude futures rose to US$122.98/mt at 3 p.m. Singapore time from US$119.32. This crack spread was at US$134.04 on Feb. 20, the highest in three weeks.
Cosmo Oil Co. plans to idle the No. 2 crude-distillation unit at its refinery in Chiba, Japan, for maintenance from end of April until the beginning of June.