Asia to receive 3m tonnes Middle East naphtha inflows in August

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)

By: Felicia Loo

AddThis Social Bookmark Button

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.

Printer Friendly