Saudi Aramco sells 50,000-75,000t naphtha for early October

16 September 2010 04:26  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi Aramco has sold by tender 50,000-75,000 tonnes of A310 naphtha for loading from Ras Tanura in early October, traders said on Thursday.

The cargo fetched a premium of $8/tonne (€6.2/tonne) to Middle East quotes FOB (free on board), for loading on 2-4 October, they said.

Prices weakened from Aramco’s previous tender, in which 50,000 tonnes of naphtha was awarded at a premium of close to $10/tonne to Middle East quotes FOB for loading from Rabigh on 10-15 September.

Asia's naphtha market was mired in ample supply and tepid demand at present, dampening prices as a result, traders said.

($1 = €0.77)

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By: Felicia Loo

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