Asia Naphtha/Gasoline-Naphtha prices rise in wide backwardation

Shell

07/10/2026 11:08

NEW DELHI, Oct 7 (Reuters) - Asia's naphtha prices rose on Wednesday in tandem with gains in crude oil benchmarks and the price structure remained widely backwardated at about $22.25 a ton.
The price for second-half November cargo traded at $952.50 per metric ton, compared with $930.25 a day earlier. The naphtha crack rose by about $10 to around $194 a ton over Brent crude.
Spot premiums for November cargoes stood at around mid-20s a ton, market participants said. Traders anticipated more activity from Thursday as Chinese traders return from Golden Week holidays.
Kuwait Petroleum Corp is due to award its naphtha tender for second-half October delivery on a delivered basis on Wednesday. NAP/TENDA

NEWS
- Shell expects third-quarter refining margins to jump to $42 a barrel, a record high and sharply above $24 a barrel in the previous quarter, the oil major said on Wednesday, as the Middle East conflict tightened fuel supplies, driving up prices.
- The governing board of the International Energy Agency will hold an informal meeting at 1300 local time on Wednesday to discuss the proposed release of oil and diesel stocks, said two European Union diplomats.  

WINDOW TRADES O/AS 
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PRICES

CASH
ASIA CLOSE
Change
Prev Close
RIC
OSN Naphtha CFR Japan M1 ($/mt)
952.50
18.50
934.00
NAF-1H-TYO
OSN Naphtha CFR Japan M2 ($/mt)
930.25
18.50
911.75
NAF-2H-TYO
OSN Naphtha Diff  ($/mt)
22.25
0.00
22.25
NAF-TYO-DIF
Naphtha Netback FOB Sing ($/bbl)
103.83
2.06
101.78
NAF-SIN
Naphtha-Brent Crack ($/mt)
193.95
9.95
184.00
NAF-SIN-CRK
Gasoline 97 ($/bbl)
154.84
1.63
153.21
GL97-SIN
Gasoline 95 ($/bbl)
143.85
-8.37
152.22
GL95-SIN
Gasoline 92 ($/bbl)
147.50
1.63
145.87
GL92-SIN
Gasoline crack ($/bbl)
46.36
0.49
45.87
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






 (Reporting by Mohi Narayan; Editing by Jochelle Mendonca)
 ((Mohi.Narayan@thomsonreuters.com; https://twitter.com/_mohi_;))