Naphtha prices in Asia rise as cracks dip to their lowest in about 10 days

06-Nov-09
Lackluster spot trading has pushed down naphtha cracks to their lowest levels in about ten days. Naphtha prices, however, rose to this weeks high at a time when traders were busy attending the Asia Pacific Petroleum Conference (APPEC). In term talks, Taiwan CPC has accepted ADNOC's term price for splitter naphtha at a premium of US$14.50/ton to ADNOC's price formula on a free-on-board (FOB) basis for January-December 2010 lifting. CPC has also accepted Kuwait's offer at a premium of US$14/ton to Middle East quotes on a FOB basis for supplies loading December 2009-November 2010.
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