Asia to receive 1.0m-1.1m tonnes deep-sea naphtha supply in May

12 April 2013 04:21  [Source: ICIS news]

SINGAPORE (ICIS)--Around 1.0m-1.1m tonnes of deep-sea naphtha supply will land in Asia in May, similar to the levels in April, traders said on Friday.

The volumes included an unusually huge arbitrage naphtha supply of 300,000 tonnes from the US, they said.

In response to the persistently high arbitrage volumes, the naphtha crack spread against May Brent crude futures tumbled to $81.43/tonne (€61.89/tonne) at the close of trade on Thursday, according to ICIS data.

The crack spread hit the lowest since 14 August 2012 when the crack spread stood at $78.25/tonne, the data showed.

($1 = €0.76)

By: Felicia Loo

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