Asia's naphtha crack slipped to its lowest level in over two weeks on Wednesday as bullish sentiments eased on an improving supply outlook, while a cracker outage in Japan reduced demand, as Reuters. Arbitrage cargoes from Europe and the Mediterranean will continue to land in Asia in September after 400,000 tons were provisionally booked to arrive in the previous month. About 500,000 tons of naphtha will load in the West in August and arrive in Asia in H1-September. This volume could be lower as some of the shipping fixtures were still preliminary. The market had found support from lower exports from India in August and refinery outages in Japan. However, increased arbitrage supply is anticipated to have covered these shortfalls. Additionally, Saudi Aramco may offer more cargoes for H2-September after selling a cargo on Tuesday.
26-Jul-12 
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