LONDON (ICIS)--European naphtha-based cracker margins have recouped some of last week’s losses, ICIS margin analysis showed on Monday.
However, liquefied petroleum gases (LPG) based margins have declined for the fourth consecutive week.
In the week to 6 July, euro-denominated naphtha values fell by 2.67% but LPG values rose by 3.22%.
Naphtha-based contract cracker margins rose by 9.11%, with co-products credits 0.59% higher week on week.
Spot naphtha-based margins rose 10.88%.
Co-products credits were down 0.55% week on week.
LPG-based contract margins fell by 7.36% week on week. Co-products credits were up by 0.36%.
The LPG margin advantage to naphtha has narrowed sharply to €78/tonne, from €172/tonne in the week ending 29 June.
This is the smallest margin advantage since early February.
Picture source: STELLA/imageBROKER/REX/Shutterstock
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