--- title: "Asia Naphtha/Gasoline-Gasoline cracks little changed amid thinner window activity" description: "Asia's gasoline spot activity remains limited despite firm demand, with cautious trading sentiment due to a cloudy supply outlook. Refining margins for gasoline fell to $13.2 a barrel. Naphtha trading" type: "news" locale: "en" url: "https://longbridge.com/en/news/261228591.md" published_at: "2025-10-15T10:16:10.000Z" --- # Asia Naphtha/Gasoline-Gasoline cracks little changed amid thinner window activity > Asia's gasoline spot activity remains limited despite firm demand, with cautious trading sentiment due to a cloudy supply outlook. Refining margins for gasoline fell to $13.2 a barrel. Naphtha trading was also thin, with margins slipping to $87 per ton. U.S.-China tensions are impacting crude oil tanker movements, while TotalEnergies anticipates a rise in third-quarter results. U.S. crude oil stockpiles are expected to rise, while gasoline inventories likely fell. Overall, the market is expected to ease gradually as supply increases from refiners returning to production. SINGAPORE, Oct 15 (Reuters) - Asia gasoline physical spot activity on the trading window was limited, despite a firm market structure, as trading sentiment turned slightly cautious amid cloudy outlook. Gasoline front-month markets were still supported by firm demand fundamentals, though some traders turned cautious on the supply front. Rising supply availability is expected from second half of next month as some refiners bring their gasoline producing units back online after overhauls, several trade sources say. The market is unlikely to crash immediately but the market structure should starting easing bit by bit, one of the sources added. Refining margins (GL92-SIN-CRK) for the motor fuel closed the trading session 10 cents down to around $13.2 a barrel. On tenders, Taiwan’s Formosa Petrochemical Corp (FPCC) closed a tender this afternoon to sell two 250,000 barrel cargoes loading November 16-20 and November 20-24. Naphtha spot activity was equally thin on the trading window, with refining margins (NAF-SIN-CRK) slipping to $87 per ton amid firmer energy prices. Discussions for December parcels were still underway, though traders are expecting deals to be done at almost similar levels from last month. ### NEWS - Supertanker freight rates surged this week and are set to stay elevated on U.S.-China tit-for-tat hikes in port fees and concerns about the fallout from U.S. sanctions on a major Chinese crude oil terminal. - Trading firms have diverted at least five more crude oil tankers from a major port in eastern China after the U.S. imposed sanctions on an import terminal there on Friday, according to trading sources and shipping data. - French oil major TotalEnergies expects to report an increase in third-quarter results, it said on Wednesday, as higher upstream production and improving margins for refining crude offset lower oil prices and liquefied natural gas output. - Oil prices fell on Wednesday, extending losses from the previous session, as investors weighed the International Energy Agency’s warning of a supply surplus in 2026 and U.S.-China trade tensions that could curtail demand. (O/R) ### INVENTORIES - U.S. crude oil stockpiles were expected to have risen last week, while gasoline and distillate inventories likely fell, a preliminary Reuters poll showed on Tuesday. (EIA/S) ### SINGAPORE CASH DEALS (O/AS) - No deals for gasoline or naphtha ### PRICES CASH ASIA CLOSE Change Prev Close RIC OSN Naphtha CFR Japan M1 555.75 -4.00 559.75 (NAF-1H-TYO) ($/mt) OSN Naphtha CFR Japan M2 547.25 -3.25 550.50 (NAF-2H-TYO) ($/mt) OSN Naphtha Diff ($/mt) 8.50 -0.75 9.25 (NAF-TYO-DIF) Naphtha Netback FOB Sing 59.75 -0.44 60.19 (NAF-SIN) ($/bbl) Naphtha-Brent Crack ($/mt) 87.53 -5.65 93.18 (NAF-SIN-CRK) Gasoline 97 ($/bbl) 75.65 -3.75 79.40 (GL97-SIN) Gasoline 95 ($/bbl) 75.65 -2.59 78.24 (GL95-SIN) Gasoline 92 ($/bbl) 75.65 0.15 75.50 (GL92-SIN) Gasoline crack ($/bbl) 13.22 -0.07 13.29 (GL92-SIN-CRK) For a list of derivatives prices, including margins, please double click the RICs below. Brent M1 (BRENTSGMc1) Naphtha CFR Japan M1 (NACFRJPSWMc1) Naphtha CFR Japan M1/M2 (NACFRJPSDMc1) Naphtha CFR Japan M2 (NACFRJPSWMc2) Naphtha Japan-Sing Netback M1 (NAPTC4SPDMc1) Naphtha Japan-Sing Netback M2 (NAPTC4SPDMc2) Naphtha FOB Sing M1 (NAFOBSGSWMc1) Naphtha FOB Sing M1/M2 (NAFOBSGSDMc1) Naphtha FOB Sing M2 (NAFOBSGSWMc2) Naphtha Cracks M1 (NACFRJPCKMc1) East-West Naphtha M1 (NAPJPEWMc1) East-West Naphtha M2 (NAPJPEWMc2) NWE Naphtha M1 (NAPCNWEAMc1) NWE Naphtha M1/M2 (NAPCNWEASMc1) NWE Naphtha M2 (NAPCNWEAMc2) Crack NWE Naphtha-Brent M1 (NAPCNWEACMc1) Crack NWE Naphtha-Brent M2 (NAPCNWEACMc2) \*Sing refers to Singapore ### Related Stocks - [TTE.US - TotalEnergies SE](https://longbridge.com/en/quote/TTE.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | More than 180 workers at TotalEnergies La Mede refinery to seek redress in labour court for benzene exposure, CGT union says | More than 180 workers at TotalEnergies La Mede refinery to seek redress in labour court for benzene exposure, CGT union | [Link](https://longbridge.com/en/news/275484197.md) | | TotalEnergies Takes Control of Zeeland Refinery While Lukoil Looks for Buyer, Reuters Says | TotalEnergies has taken full control of the Zeeland refinery in the Netherlands, although it has not purchased Lukoil's | [Link](https://longbridge.com/en/news/275608057.md) | | Asia Naphtha/Gasoline-Naphtha margin rises on tight supplies | Asia's naphtha refining profit increased to $105.48 per metric ton over Brent crude due to tight supplies and competitiv | [Link](https://longbridge.com/en/news/275594986.md) | | Nigeria's Dangote refinery says crude unit and petrol block running at capacity in tests | Nigeria's Dangote Petroleum Refinery has successfully conducted 72-hour performance tests on its crude distillation unit | [Link](https://longbridge.com/en/news/275719552.md) | | EIA weekly crude oil inventories +8530K vs +793K expected | Prior was -3455KGasoline+1160K vs -362KDistillates -2703KRefinery utilization -1.1%There were some waves late yesterday | [Link](https://longbridge.com/en/news/275629873.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.