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Naphtha crack rebounds in Asia

27-Mar-12

Naphtha crack spread rebounded in Asia from a three-day drop, signaling increased profit for refiners making the petrochemical feedstock, as per Bloomberg. Naphtha’s premium to Brent crude rose by over nine dollars to US$122.28/ton. Glencore International Plc sold 25,000 tons of open- spec naphtha for H2-May delivery to Vitol Group at US$1079/ton, according to a Bloomberg survey, while Royal Dutch Shell Plc bought a H1-June cargo from Mabanaft GmbH at US$1071/ton.

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