Europe naphtha-based margins fall, LPG margins rise week on week

LONDON (ICIS)–European ethylene cracker margins based on naphtha feedstock have fallen week on week, while margins based on liquefied petroleum gas (LPG) have risen, ICIS margin analysis showed on Monday.

In the week to Friday 13 October, euro-denominated naphtha values increased by 2% while LPG values fell around 5%.

Naphtha-based contract cracker margins fell by 6.27%, with co-products credits less than 1% lower week on week.

Spot naphtha-based margins fell by almost 7% although it would have been more given a 1% gain in spot ethylene prices week on week.

Co-products credits were down by 0.98%.

LPG-based contract margins rose by 13.11% week on week. Co-products credits were down by 0.44%.

Naphtha-based margins remain at a premium to those for LPG.

Picture source: Mode/REX/Shutterstock

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