Ample supplies hit markets, KPC sells 150,000 tons of spot naphtha for October at lower premiums

13-Sep-10

Kuwait Petroleum Corp (KPC) has concluded deals for 150,000 tons of spot naphtha for October loading at lower premiums amid ample supplies. Deals were concluded with a Japanese as well as a Western trader at premiums of US$11-12/ton to Middle East quotes on a free-on-board (FOB). These premiums are about 4-6 dollars lower than those fetched two weeks ago from Gunvor and Hanwha for a total of about 150,000 tons for H2-September lifting.