SINGAPORE: Asia’s naphtha crack slipped for a second consecutive session on Tuesday as eastbound arbitrage volumes added to regional supplies.

The naphtha crack, which has shed 10% over the last two weeks, was at $99.33 per tonne on Tuesday. It was at $101.45 per tonne on Monday.

Western naphtha arrivals for March were estimated to be around 2.7 million tonnes, 23% higher than last month, Refinitiv Oil Research assessments showed.

Asia’s gasoline crack dipped to $5.57 per barrel on Tuesday, compared with $5.83 per barrel a day earlier.

The gasoline crack has gained 27% over the last two weeks, but traders were concerned reimposed mobility restrictions due to fresh waves of COVID-19 infections in several markets would dampen near-term demand recovery.