06 June 2008 17:09 [Source: ICIS news]
The open-spec naphtha bid was on a cost, insurance and freight (CIF) northwest Europe (NWE) basis and made in the wake of soaring crude values, which had risen more than $6/bbl in intraday trading.
The July crack spread was reported at -$11/bbl relative to July Brent, which was trading around $133.65/bbl at 15:30 GMT.
General trading conditions were weak due to high prices and a lack of support from the gasoline and petrochemicals sectors, traders said.
($1 = €0.64)
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