On Tuesday, open-spec naphtha bids for the second half of August gained traction in the Asian market. Bid levels were pegged at USD 571/mt CFR Far East, with ask prices reaching USD 573/mt, both marked USD 3/mt higher than Monday’s assessments.
According to a regional market source, maintenance activities across Asia are reshaping demand patterns. Japan’s Mitsui Chemicals has recommenced activity at its Ichihara cracker after a multi-month overhaul and will soon send its Osaka cracker offline for a 30-day overhaul. In South Korea, Yeocheon’s No. 3 naphtha cracker remains shut due to soft market conditions. Meanwhile, Indonesia’s Lotte Chemical LINE plant has restarted following last week’s closure. In the Singapore spot arena, Gunvor secured a 25,000-ton naphtha shipment from Total, with prices hovering at USD 61.29 per barrel.
Contrasting this, European naphtha prices saw a slide, with assessments dropping by USD 5/mt to the USD 550–555/mt range.
Crude benchmarks also displayed subdued movement. Brent crude edged lower by USD 0.51 (−0.77%), settling at approximately USD 66.12 per barrel, while WTI slipped USD 0.79 (−1.24%) to USD 63.17 per barrel.
The uptick in Asian naphtha pricing reflects a cautiously optimistic tone amid shifting supply dynamics, particularly as cracker maintenance schedules in Japan and South Korea sap upstream demand. Meanwhile, Europe’s softer performance reinforces a regional divergence in naphtha consumption and supply outlook. Crude oil’s modest decline, set against persistent global supply growth forecasts and demand uncertainties, continues to weigh on energy markets.
