Around 75,000 tonnes of Middle East naphtha to head for US Gulf

17 November 2011 11:32  [Source: ICIS news]

SINGAPORE (ICIS)--Around 75,000 tonnes of naphtha will set sail for the US Gulf Coast from the Red Sea in the Middle East sometime in November, traders said on Thursday.

The loading dates are not immediately available.

“With the Red Sea naphtha going to the west, this means a loss of barrels for Asia. That has supported prices in Singapore to a certain extent,” said a trader.

The open spec Asian naphtha contract for the first half of January closed $4.50/tonne (€3.33/tonne) higher at $894-895/tonne CFR (cost and freight) Japan on Thursday, despite lower Brent crude futures.

($1 = €0.74)

For more on naphtha, visit ICIS chemical intelligence

By: Felicia Loo

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