RIL's Oct naphtha parcel fetches US$5-7 premium

13-Sep-08
80,000 tons of open-speculation naphtha parcel for October delivery were sold by Reliance Industries Ltd. (RIL) from Sikka to British Petroleum (BP) at a one-digit premium of US$5-7/ton over the Middle East quotes on FOB basis. This contradicted the two-digit discount on the naphtha parcel of 35,000 tons sold by ONGC to Glencore for October 1-2 lifting. Naphtha market in Asia has been marked by abundant supplies, caused by slowing demand due to weak petrochemical margins with Asian naphtha price standing at US$908.50/ton.
  More News  Post Your Comment
{{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