Asia Naphtha Crack Extends Drop; BP Sells Gasoil: Oil Products

Naphtha crack spread extended losses in Asia, signaling reduced profit for refiners, as per Bloomberg. Japan naphtha’s premium to London-traded Brent crude futures fell to US$122.73/ton at 3 p.m. Singapore time from US$126.44 on Feb. 10. Thus, crack spread, a measure of refining profit, dropped 2.7% last week.
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