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)
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