Saudi Aramco sells 50,000 tonnes naphtha for H1 September

16 August 2010 11:12  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi Aramco has sold by tender 50,000 tonnes of naphtha for loading from Rabigh in the first half of September, traders said on Monday.

The cargo, due for loading on 10-15 September, fetched a premium of close to $10.00/tonne (€7.80) to Middle East quotes FOB (free on board), they said.

Saudi Aramco last sold by tender 75,000 tonnes of naphtha at a premium of $5-6/tonne to Middle East quotes FOB.

Asian naphtha prices were on a rebound, supported by spot demand from Taiwan. The naphtha crack spread hit a two-month high of $104.63/tonne against Brent crude futures on Monday, ICIS data showed.

($1 = €0.78)

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By: Felicia Loo

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