Asia’s naphtha demand expected to strengthen in May

Some traders are expecting stronger demand in May, following peak cracker maintenance in April in Asia, as per Reuters. They are on the lookout for vessels to ship at least 300,000 tons of Western naphtha for H1-May arrival vs 250,000 tons for H1-April arrival. Open Spec Naphtha for front-month H2-April rose by over 20 dollars to US$1017/ton, the highest since March 7. Naphtha cracks rose to US$149.4/ton premium.
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