Singapore oil product swaps prices tracked crude lower in post-holiday trade on Monday and naphtha lost nearly $2 on easing concerns over supplies from Algeria.
February naphtha swaps were pegged at $36.55/$36.75 a barrel, down from $38.35/$38.55 on Wednesday, the last day of active trading before Lunar New Year holidays, as shipping operations at Algeria's key port of Skikda resumed due to improved weather conditions.
Traders said a naphtha cargo was due to load from Skikda on Saturday, the first of four naphtha cargoes subjected last week to a force majeure notice by Algerian state-oil-company Sonatrach.
Brokers pegged February gas oil prices at $39.00 a barrel, down 50 cents from Wednesday.
But February's crack spread to Dubai crude held firm at $10.30 a barrel, just 10 cents weaker than Wednesday, they said.
February fuel oil prices eased to $176.25 a tonne from $177.75 and backwardation with March narrowed about 50 cents to $1.50.
Front-month March NYMEX crude futures were off 42 cents at $34.52 a barrel at 0327 GMT in expectation a cold spell in the United States will ease later this week.
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