23 July 2013 05:08 [Source: ICIS news]
SINGAPORE (ICIS)--Asia will receive around 3m tonnes of naphtha supplies from the Middle East in August, up from 2.8m tonnes in July, traders said on Tuesday.
Higher volumes, which comprise spot and term material, coming from the Middle East are exerting downward pressure on the naphtha market, they said.
“The imports are increasing and the Middle East barrels will be the key,” said one trader.
The naphtha crack spread narrowed to $94.38/tonne (€71.73/tonne) on Monday against Brent crude futures, from $102.78/tonne on 19 July, ICIS data showed.
($1 = €0.76)
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