BPCL realizes lower premiums for prompt shipment naphtha

India's Bharat Petroleum Corp. Ltd. (BPCL) has realized lower than last month premiums on a low-aromatic naphtha grade cargo for late August-early September lifting. At a time when Indian suppliers are raking in increased premiums, the reverse has happened with this deal mainly due to the prompt shipment of the cargo, which gives traders little time to seek end users. BPCL has sold a 30,000 ton cargo for August 25-September 2 lifting from Mumbai to Glencore at a premium of US$13/ton to Middle East quotes, on a free-on-board (FOB) basis, as compared with about US$25-26/ton premium fetched for a parcel of the same grade slated for July 31-Aug. 4 lifting, also from Mumbai.
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