02 February 2012 03:27 [Source: ICIS news]
(adds paragraphs 5 & 6 on naphtha demand, crack spread)
SINGAPORE (ICIS)--Asia is expected to receive 110,000-150,000 tonnes of arbitrage naphtha from ?xml:namespace>
European refiners are using more naphtha for gasoline blending, while high liquefied petroleum gas (LPG) prices have prompted European crackers to use more naphtha instead, they added.
“Supplies are very tight in
In January, some 250,000-300,000 tonnes of European naphtha arrived in
Demand, on the other hand, was firm, with
The inter-month spread between the second half of March and the second half of April contracts strengthened to a backwardation of $11.00/tonne (€8.36/tonne) from $6.00/tonne last week, ICIS data showed.
($1 = €0.76)
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