10 August 2012 11:38 [Source: ICIS news]
Scheduled maintenance at a couple of key Indian refineries, meanwhile, would lead to tighter naphtha supply going forward, they said.
The Asian naphtha crack spread for second-half September rallied to $99.65/tonne against September Brent crude futures, the strongest since 14 May, according to ICIS data.
“The reforming margin is still strong,” said a trader, referring to the price spread between motor gasoline and naphtha.
Asian gasoline supply is currently in a shortfall, because refinery upsets in the
Refinery shutdowns in
Naphtha supply from key exporter –
“There will be less Indian supply because of maintenance,” a trader said.
Open-spec prices for the second-half September contract extended gains despite falling Brent crude futures in Friday afternoon trade. Prices rose by $20.50/tonne from Wednesday to $943.50-944.50/tonne CFR (cost and freight)
($1 = €0.81)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|