Europe naphtha cracks rise as front of curve enters backwardation

23-Aug-10
The spread between August and September naphtha swaps in the over-the-counter-market in Europe has flipped into backwardation as naphtha cracks continue to rebound, as per Platts. The August naphtha crack swap was pegged at around minus US$1.50/barrel Thursday morning, rising from minus US$3.75/bbl a week ago. Cracks have risen steadily through the week, rebounding from the lows seen at the start of August of around minus US$5/bbl. The rise in cracks follows reduced production of naphtha on reduced run rates due to poor refinery margins. Strength in the Asian naphtha markets has had a knock-on effect on European naphtha values, as the arbitrage to Asia for naphtha has started to open in recent days.
  More News  Post Your Comment

Previous News

Next News

{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha