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Wider arbitrage window to Asia supports Europe naphtha

Focus Wider arbitrage window to Asia supports Europe naphtha

By Cuckoo James

LONDON (ICIS)--A wide-open arbitrage window to Asia is supporting the European naphtha market, while gasoline and domestic petrochemical demand has become sluggish, industry sources said this week.

The naphtha arbitrage window from Europe to Asia has opened wider for the fifth consecutive week, leading to an increase in naphtha exports out of Europe.

A petrochemical producer noted the price spread between northwest Europe and Asia naphtha at $21/tonne on Wednesday morning, up from $18/tonne the previous week and $16/tonne the week before that.

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