Naphtha prices rise in Europe after recent loading disruptions in the Mediterranean

23-Jan-12
Naphtha prices in Europe rose in the window after recent loading disruptions in the Mediterranean caused by bad weather during the past month, after a weak end of the year; as well as Asian demand lent support, although petchem users in Europe continue to prefer cheaper propane as feedstock. Naphtha supplies in Europe could be curtailed by maintenace Algeria's Skikda refinery, which will take place between March and May, as per Reuters. Propane is trading at a discount to naphtha of about US$42/ton as the mild winter weather continues to suppress price of propane. "Propane has been stronger as winter has returned to move average levels," a trader said. "East-West has come off a bit likely as function of Chinese New Year holiday and the volumes they had already imported"
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