Crude futures rose as they found support from a weaker US dollar, equity market gains, and upbeat economic data from Japan and South Korea. Gasoil and fuel oil swaps fell in Asia as naphtha rose in line with a crude oil rise. In Asia, April gasoil swaps fell US$87.95 a barrel while fuel oil dipped to US$469.25/ton and front-month naphtha swaps rose to US$78.89 a barrel. Refining margins for naphtha led gains on speculation that demand for polymer feedstocks will rise as the global economic recovery gained momentum..
Open-specification naphtha forward contracts for H1-May were valued at $733/ton, naphtha for delivery from H2-May to H1-June was valued at $729/ton.